Another $319m Abacha Loot Found In France And UK

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IMG_20200507_232851_993 Another $319m Abacha Loot Found In France And UK

The embassy in a statement said that $167m in stolen assets is split between France and the UK while another $152m was in Britain.

The release of the $152m is being argued in court however. 

The statement said, “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.”

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The litigation is over a 2003 agreement reached between Kebbi State governor, Atiku Bagudu, and the Nigerian Government.

According to the deal, $100m of the $152m will come to Bagudu. 

He had allegedly decided to help the Nigerian Government trace the money if he was allowed to retain $100m.

According to court records, the President Muhammadu Buhari administration in 2018 confirmed its commitment to return the allotted funds to the former senator.

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This move has made the US and UK governments unwilling to return the stolen assets back to Nigeria.

Abacha is estimated to have lodged $5bn of public funds in different foreign bank accounts during his time as Nigeria’s military dictator.

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