Abacha Loot: Full List of Times Foreign Nations Returned Nigeria's Funds Stolen by Ex-leader

Abacha Loot: Full List of Times Foreign Nations Returned Nigeria's Funds Stolen by Ex-leader

General Sani Abacha, a former military Nigerian leader, stole a massive amount of funds from the coffers of the public treasury, and to date, foreign governments are still in the business of returning to the country monies looted by him.

So far, an estimated $4 billion in cash and $2 billion in assets have been recovered from the Abacha loot from 1999 to 2022.

The most recent development is the $23 million the United States government has agreed to repatriate to Nigeria after signing a deal with the Buhari-led federal government.

Abacha
The actual amount of money stolen by Abacha is still not known (Photo: @G_sparking)
Source: Twitter

Although it is yet unknown how much exactly was smuggled abroad during the Abacha regime, below is a list of times his loot has been recovered by Nigeria.

  1. July 1999 ($420 million)
  2. May 2002 ($1.2 billion)
  3. November 2003 (Jersey Island recovered $149 million)
  4. September 2005, Switzerland returned $458 million in cash and $2 billion in assets
  5. March 2014 (Switzerland returned $380 million)
  6. June 2014 (Liechtenstein returned $227 million)
  7. August 2014 (the US returned $480 million)
  8. 2016 (Switzerland returned $723 million)
  9. December 2017, Switzerland returned $322 million more of Abacha loot to the Nigerian government.
  10. May 2019, £211 million Abacha loot was discovered in a bank in Jersey, the United States of America.
  11. January 2020 (Island of Jersey and the US returned $321 million)
  12. May 2020 (Island of Jersey and the US returned $311,797,866.11)
  13. August 2020, (Republic of Ireland repatriated €5.5 million)
  14. August 2022, the US repatriated $23 million)

Read also

Naira Falls to record low against US dollar in 2022 at official market as foreign reserves fall

PAY ATTENTION: Subscribe to Digital Talk newsletter to receive must-know business stories and succeed BIG!

Meanwhile, Singer 2baba Idibia caught the attention of Nigerians in the online community after sharing a fresh and personal perspective as it regards Abacha.

The veteran entertainer took to his Instastory channel with a submission in which he made an attempt to give reasons for Abacha’s notorious looting during his regime as head of state.

For 2baba, if Abacha had the genuine intent of stealing funds, then it would have been almost impossible for anyone to recover the stolen funds.

According to him, Abacha probably stole money all in a bid to protect it from the thieving nature of those in power.

The singer wrote:

"If to say Abacha actually thief this money, we for no fit recover am. Abi na only me dey think this thing. I think he tried to keep it away from these thieving hands."

Source: Legit.ng

Online view pixel