About one week after helping to repatriate to Nigeria, $311m (N118bn) stolen by the late Head of State, Gen. Sani Abacha, the United States says there is a separate $319m (N121bn) Abacha loot in the United Kingdom and France.
American Embassy in Nigeria said in a statement on Wednesday that there is $167m in stolen assets in France while there is a separate $152m in the UK which is being challenged in court.
The statement reads: “The funds returned last week are distinct and separate from an additional $167m in stolen assets also forfeited in the United Kingdom and France, as well as $152m still in active litigation in the United Kingdom.”
Bloomberg had reported that the repatriation of the $152m (now $155m due to interest) to Nigeria is being challenged by the UK and the US because of alleged plans by the Nigerian government to give $110m out of the money to Kebbi State Governor, Atiku Bagudu, a known associate of the late Abacha.
Nigeria is seeking the approval of a UK court to take ownership of the assets before returning 70 percent of the proceeds to Bagudu under the terms of a 2018 deal, according to Bloomberg.
Nigeria’s Attorney-General, Abubakar Malami (SAN), has, however, denied ever entering a deal with Bagudu but court papers say otherwise.
I don’t think that taking ownership of the money is the issue…at least, that is not what both the UK and the US governments are contesting and contending. Both governments believe and know that the funds does indeed belong to Nigeria. What Nigeria intends to do with it after it’s returned to the country is the issue and therefore, the problem!