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Tag: Abacha loot

  • Abacha loot: Switzerland to return $321m – Malami

    Abacha loot: Switzerland to return $321m – Malami

    The Minister of Justice and Attorney General of the Federation (AGF), Abubakar Malami ( SAN ) announced Thursday that negotiation has been concluded with Switzerland on the return of $321Million recovered from the late Abacha family.

    Malami also said the country recently recovered $85m from the controversial Malabu Restrained Funds from United Kingdom (UK).

    Spokesman to the Minister, Salihu Isah, in a statement Thursday, said Malami disclosed these in Abua at a Pre-Global Forum on Asset Recovery (GFAR) Consultative meeting with the theme: “Building an ending framework for asset recovery in Nigeria.”

    Isah quoted Malami as saying that with the conclusion of negotiation, the Memorandum of Understanding will be signed by parties at the Global Forum on Assets Recovery meeting to be held on between December 4 and 6 in Washington.

    He said after parties’ endorsement of the MOU, the repatriation of the funds would follow within weeks as agreed by the parties.

    He said Malami stressed the need for the international community to ensure the implementation of measures considered and adopted at the London Anti-Corruption Summit in May, 2016.

    Malami, Isah said, assured that the country was willing to support the transparent return of stolen assets.  He urged the international community to ensure prompt return of assets from the country to enable it meet the sustainable development goals.

    He quoted Malami as sayin:”“It is widely acknowledged that corruption undermines economic development, political stability, rule of law, social development, disrupts social order and destroys public trust in the governance system. It is an established fact that corruption which is linked to organised crime, terrorism and insecurity is one of the reasons for underdevelopment.

    “Resources and funds meant for development of infrastructure in education, health and security sectors, among others have been stolen and hidden in different parts of the world,”

    Isah said the British Ambassador to Nigeria, Paul Arkwright (represented by Senior Police Advisor, Michael H. Bonner) and. Swiss Ambassador, Eric Mayoraz commended the Nigerian government for collaborating with Civil Society Organizations to fight corruption and in tackling illicit financial flows.

    He said they pledged the support and cooperation of their home countries in repatriating stolen funds stashed away in banks at their countries back to Nigeria in due course.

    Read also: United States claims $300m Abacha loot

    Isah also quoted the Director MacArthur Foundation, Dr. Kole Shettima as praising the Nigerian government for getting interest groups on board for the asset recovery drive.

    He said Shettima wished that other parties like the Nigerian movie industry known as Nollywood as well as the media among others are involved to be all encompassing.

    Shettima siad he was not comfortable with the situation where the anti-corruption war would be seen as the fight of President Buhari or government fight, but as the fight of all Nigerians.

    Isah said the Director, African Network for Environment and Economic Justice (ANEEJ), David Ugolor Said Global Forum on Asset Recovery, established as an outcome of the London 2016 Anti- Corruption Summit hosted by former British Prime Minister, David Cameron would build on the experiences of the Arab Forum on Asset Recovery (AFAR) and the Ukraine Forum on Asset Recovery (UFAR).

    The AGF’s spokesman quoted Ugolor as saying: “(the core objective of GFAR is to convene practitioner experts to provide an effective opportunity for countries to cooperate on asset recovery cases.

    “It also tries to highlight the importance of strong political commitment, multijurisdictional coordination and practitioner interaction. “Its inaugural meeting will focus on assistance to four priority countries; Nigeria, Sri Lanka, Tunisia and Ukraine”.

  • $550m Abacha loot: Fed Govt set to clear hurdles

    $550m Abacha loot: Fed Govt set to clear hurdles

    Governor urged to withdraw suit

    To repatriate a $550million loot traced to ex-Head of State Gen. Sani Abacha, the Federal Government is to resolve two legal hurdles in the United States.

    The hurdles are:

    • an application filed before a court by Kebbi State Governor Atiku Bagudu and his wife; and
    • an action by a United States lawyer, Godson Nnaka, who is fighting to have part of the money.

    Besides, the government is seeking “political solutions” to the conditions set by the Swiss government for accessing the loot, The Nation learnt yesterday.

    The Swiss government would like to monitor what Nigeria does with the loot, a development which the Federal Government considers as an affront on the country’s sovereignty.

    Attorney-General of the Federation and Minister of Justice  Abubakar Malami (SAN) and  Economic and Financial Crimes Commission (EFCC) Acting Chair Ibrahim Magu, who returned from the US on Sunday, were said to have made progress in “negotiating the last phase of the process for the release of the $550million”.

    Pending legal cases in the U.S. by the two Nigerians and the conditions attached to the use of the loot have caused the delay in repatriating the $550million loot.

    The U.S. insisted on the removal of the legal obstacles before it could invoke the procedure for the release of the funds to Nigeria.

    Following likely loss of the $550 million, President Muhammadu Buhari has chosen to resolve the stalemate through “political solutions”.

    A top source, who spoke in confidence, said: “The Federal Government is inching closer to the resolution of legal hurdles and the template for the release of the $550 million Abacha loot. We have spent close to 20 years pursuing the repatriation of these stolen funds; it is time to get over it.

    The source added: “The government is trying to prevail on the Governor of Kebbi State, Alh. Atiku Bagudu and a U.S.-based lawyer, Mr. Godson Nanka to withdraw their pending matters in some courts in the U.S..

    “The government has decided to plead with Bagudu and his wife, Aisha to withdraw their  suit in the U.S., which is inhibiting the process of releasing the cash, which has been stashed in Switzerland.”

    In the suit number 13-CV-1832 (JDB), Bagudu and his wife urged the court to reverse its judgment,  which declared that the money  attributed to them was illicit fund laundered into the U.S. and therefore forfeited to the American government.”

    Relying on 18 USC 983 (a) (4) and Rule G (5) (a) of the Sup¬plemental Rules for Admiralty or Marine Claims and Assets Forfeiture Actions of the Fed¬eral Rules of Civil Procedure (Supplemental Rules), Bagudu said: “I have a claim to and interest in the property alleged to be subject to forfeiture in this action.”

    “If we continue with this suit without a political solution, the $550 million will still be held up in the U.S..

    “The President has asked AGF Malami to discuss with the governor and his wife to withdraw the matter in the interest of the country. I think Bagudu has agreed to do so.”

    Also, a U.S.-based lawyer, Mr. Godson Nnaka, who was recruited in 2004 by the Federal Government to recover funds stolen by the late dictator, Gen. Sani Abacha, had instituted a case in a U.S. district court  against the Federal Government.

    He has asked the court to declare that he is entitled to 40  per cent of the recovered loot. He also pleaded with the court to make him  the funds’ exclusive attorney.

    “He alleged that he was excluded from  the fund recovery case after spending much time and money in tracing the looted funds.

    “So far, we have no choice than to negotiate with the counsel. This is another legal challenge which the U.S. is using to delay the repatriation,” the source said.

    A government source also made some clarifications on why the U.S. and Switzerland were involved in the loot recovery.

    The source said: “The looted funds originated from the US jurisdiction to Switzerland. Many U.S.-based  banks or financial institutions were involved in the wiring of the funds. They include  Chemical Bank, New York; Commerzbank AG, New York; Marine Midland Bank, New York (now HSBC USA, NA;  Morgan Guaranty Trust Company, New York (now JP Morgan Chase); ANZ Banking Group, New York; Bankers Trust Company, New York; Barclays Bank, New York; Citibank NA, New York;  and Chase Manhattan Bank, New York.

    “About $321million of the cash is said to be stashed in some banks in Switzerland. So, tracking the assets is an intertwined challenge between the U.S. and Switzerland.”

    Asked to be specific, the source said the government had signed a pact with Switzerland.

    “The pact, which is titled a “Letter of Intent on the restitution of illegally-acquired assets forfeited in Switzerland,” was signed by Nigeria’s Attorney-General and Minister of Justice, Abubakar Malami (SAN), and the Swiss Head of Foreign Affairs Department, Didier Burkhalter. The document reveals that $321 million acquired illicitly by the Abacha family was initially deposited in Luxemburg before being confiscated by the Swiss Republic Judiciary and Canton of Geneva following a December 11, 2014 forfeiture order.

    “If the $321million loot is released, the total repatriation to Nigeria by the Swiss authorities will amount to $1.044billion in 12 years.

    “The Switzerland government has released $723million to the country in the last 11 years.

    “Well, as for the conditions set by Switzerland , the Federal Government regarded as an affront on its sovereignty. Some of the conditions include  the use of the funds for projects that will benefit all Nigerians and that World Bank should “ supervise the spending of returned assets by the Nigerian government”.

    The government submitted five project proposals to the Swiss government bordering on social benefit projects for the 2016 budget but the looted funds were not released.

    The Federal Government and Switzerland last month signed an agreement on the return of the $321million.

    A rights lawyer Femi Falana(SAN) had asked the  Federal Government  to reject the conditions attached to the repatriation of the stolen funds in a letter to President Muhammadu Buhari.

    He said allowing the World Bank “to supervise the spending of returned assets breaches international law principles and standards”.

     

  • Nigeria may lose another $550m Abacha loot in U.S – Sagay

    Nigeria may lose another $550m Abacha loot in U.S – Sagay

    The Chairman of Presidential Advisory Committee Against Corruption (PACAC), Prof. Itse Sagay, on Thursday raised an alarm that Nigeria is on the verge of losing another $550m stolen fund recovered from the family of late maximum ruler, Gen. Sani Abacha, to the United States.

    Sagay spoke at a press briefing on asset recovery and asset return held in Abuja.

    He said what the government wants is an unconditional return of the country’s stolen wealth.

    The media parley was jointly organised by PACAC and the Office of the Senior Special Assistant to the President on Foreign Affairs and the Diaspora.

    “Nigeria presently stands to lose another $550 million recovered from the Abacha’s family to the U.S contrary to the earlier promise by the U.S to return same to Nigeria,” he said.

    The amount, he said represented a separate tranche from the earlier $480 million forfeited to the U.S following a court judgment in August 2014.

    Sagay said the government is demanding for unconditional return of the money recovered.

    He explained that stringent conditions for repatriation being given by the countries, particularly the U.S in which some of the nation’s stolen wealth are stashed contradicted the earlier promises made to the government.

    Appealing to Nigerians in Diaspora to step into the matter, Sagay said, “this is the time for Nigerians in Diaspora and every friend of Nigeria to get involved in the advocacy to recover stolen assets, not in just in words but in deed.

    “We need no apologies from recipients of stolen assets. Our demand is the unconditional return of our stolen national patrimony.”

     

  • Abacha loot: FG debunks report on payment of $79m

    Abacha loot: FG debunks report on payment of $79m

    The Federal Government of Nigeria has debunked report on payment of $79million commission to Swiss Government. A statement from the government said: “The attention of the Honourable Minister of Finance, Mrs. Kemi Adeosun, has been drawn to a misleading report published in the Saturday edition of a national newspaper, December 10, which erroneously claimed that the Federal Government has agreed to pay a $79 million commission to the Swiss government as part of conditions for repatriation of the Abacha loot.
    The Minister of Finance clarified that the amount payable to Nigeria from Switzerland is $321 million, and is being returned to Nigeria for projects which are subject to verification by the World Bank. The recovery process is ongoing with the Swiss authorities and the World Bank has agreed to undertake the required verification.

    She stated that there is no deduction of $79 million as suggested in the report which is both “misleading and inaccurate”. She assured that recovery will be made in full and that there is neither commitment nor requirement to pay any commission.

  • US Justice Dept. and Abacha Loot

    SIR: The Africa Network for Environment and Economic Justice, ANEEJ, welcomes the ruling of Justice John Bates of the District of Columbia dismissing the claim of one Nigerian lawyer in the US, Godson Nnaka, seeking a lien of $320million as legal fees for alleged involvement in the repatriation of $500million Abacha loot trapped in the United States. With the disposal of the case, claims and counter claims by the United States Department of Justice, DOJ, and the Nigerian government, the coast is now finally clear for the repatriation of the loot.

    We are delighted that at last one of the bottlenecks said to be holding back the repatriation of funds looted and hidden in the United States by the late Sani Abacha has been dealt with. What should be happening now is that the US should become involved with the initiative proposed by the United Kingdom, and get connected with the memorandum of understanding which it has entered into with the Nigerian government, to return all Nigerian monies hidden in all British dependencies.

    We encourage the US government to use this opportunity of the ruling by its department of Justice, to send a strong message to Kleptocrats from to Nigeria that there will be no escape route for them.

    The US Court Ruling provides an opportunity for both countries to unite around asset recovery to give meaning to the United Nations Convention Against Corruption, UNCAC. In the past, repatriated funds were either mismanaged or re-looted. If there is a blueprint on how the returned funds will be spent, or that the funds are tied to specific rural empowerment projects, it gives civil society a stake in the process, and gives everyone an opportunity to monitor the returned funds.

    • Rev David Ugolor, ANEEJ, Benin City.
  • Switzerland to repatriate $321m Abacha loot

    Switzerland to repatriate $321m Abacha loot

    Nigeria and Switzerland on Friday signed a Memorandum of Understanding (MoU) on the repatriation of $321 million stashed in the European nation’s banks by the late maximum ruler, Gen. Sani Abacha.

    The pact also seeks to block accounts linked to stolen funds.

    This is the second batch of the stolen money linked to the late Abacha.

    Switzerland also repatriated $722m to Nigeria in 2005.

    The Swiss Ambassador to Nigeria, Eric Mayoraz, hinted that both countries are now in the process of repatriating the looted fund.

    The MoU, he argued will help remove all the legal bottlenecks in the fund repatriation.

    The envoy spoke during the signing of MoU on Mutual Legal Assistance on criminal matters, between the Swiss government and the Federal Government in Abuja.

    Mayoraz noted that Friday’s event is significant in the sense that it would eradicate every bottlenecks associated with the repatriation of stolen funds kept in his country.

    The ambassador, who stated that the pact is aimed at fostering understanding between the two countries as it relates to their different legal system said, “We are now in the process of repatriating $321m from the second batch of the Abacha loot.

    “Our countries enjoy excellent relations and we cooperate as partners in many fields, particularly on the return of looted assets, migration, human rights, humanitarian assistance and many others.

    “Today, we decide to take this cooperation forward to deepen it in the field of judicial cooperation. By signing a Memorandum of Understanding in this important area, our two states further strengthen their ties of friendship and cooperation.”

     

  • Nothing like Abacha loot, says al-Mustapha

    Nothing like Abacha loot, says al-Mustapha

    The Chief Security Officer (CSO) to the late Head of State Gen. Sani Abacha, Major Hamzat al-Mustapha yesterday said there is “nothing like Abacha loot.

    He said he does not harbour grudges against his prosecutors and Sergeant Rogers, who was the prosecution witness in court, adding that he has taken solace in God’s blessings. He said he was also consoled by the fact that some members of the panel that tried him had washed their hands clean because he was being victimised.

    The military officer, who was released from detention three years ago, promised to release his memoir, which he said, will give details on his involvement in the Abacha government, its economic activities, how the military leader died and his travails outside power.

    Mustapha disputed the claim of an Abacha loot, urging the authorities to disclose the date of lodgment, the people behind the money and the amount. He said while Abacha left 9.732 dollars in the coffers, it was mismanaged by the administration that cried foul about an Abacha loot.

    The said his next move would be determined by the outcome of the case for the determination of his military status by the court.

    The former CSO spoke with reporters in Lagos on his ordeal in detention, his protracted trial alleged moves to continually tarnish Abacha’s image because he stepped on toes.

    Denying the allegation of assisting the former military leader to ferry money abroad, he said: “The proper facts about the Abacha loot are not known. Where was the money from? What was it meant for? How was it taken out? Who kept the money there? Abacha was not leaving Nigeria at a later time. His journeys were within Africa because the toes he had stepped upon were bent on removing him.

    “In November 1998, I told the government to prosecute me, if I have any bank account than my salary account with the Bank of the North.”

    Mustapha, who said he is recuperating from the trauma of detention, torture and protracted trial, urged Nigerians to wait for his book. He lamented that an earlier book written by Gen. M.T Alli was not allowed to circulate because it exposed the atrocities of many Nigerian leaders.

    He said: “I am just recuperating from what I went through. I went through punishment and torture. I was in chains. I was not allowed to see a doctor, family and lawyer. There was no light in my cell. I only wore my singlet, which was full of blood. You sighted food and you are denied. I was treated like an animal.

     

  • FG to recover $750m Abacha loot soon – AGF

    FG to recover $750m Abacha loot soon – AGF

    The Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), on Tuesday said the Federal Government will soon recover an additional $750 million kept in foreign banks  by the late Head of State, Gen Sani Abacha.

    Malami, who spoke during an interactive session with the House of Representatives Committee on Justice, said the government is also aiming to recover £6.9 million stolen by former Delta State Governor, Chief James Ibori.

    He said: “In respect of the recovery of looted assets, the ministry will engage in an agree waive policy of using Mutual Legal Assistance Agreements or other bilateral and multilateral instruments to seek cooperation with other jurisdictions to ensure the repatriation of illicitly- acquired assets in foreign jurisdictions.

    “The collaboration will equally involve the engagement if foreign- based Counsel to attend to matters on behalf of the federal Government. Low- hanging fruits being targeted in this initiative include $750 million Abaca loot as well as the £6.9 million of the Ibori loot. On the long run, the ministry will be in a position to coordinate the recovery of billions of dollars in foreign jurisdictions, based on current estimations.”

    The minister also revealed that the country owes N75 billion in judgment debts.

    “It is equally necessary to highlight the fact that the ministry’s current liability for judgment debt is in the region of N75 billion.

    “The ministry has however proposed the sum of N 16 billion to meet a portion of the outstanding sum in 2016, out of which the Budget Office has proposed an extremely low sum of N 709, 155, 140.00 which does not meet even one percent of the outstanding judgment debts,” the AGF said.

     

     

  • Nigeria, Switzerland hold talks on Abacha loot

    Nigeria, Switzerland hold talks on Abacha loot

    Authorities in Switzerland are in talks to arrange the return to Nigeria of $300 million confiscated from the family of former military ruler, Sani Abacha, Nigeria’s foreign minister said.

    The corruption watchdog Transparency International has accused Abacha of stealing up to $5 billion of public money during his five years regime in Nigeria.

    Abacha ruled Nigeria from 1993 until his death in June 1998.

    Geoffrey Onyeama said $700 million had already been repatriated from Switzerland, adding that he met Swiss representatives last week for further talks.

    “They have also now recovered, in the same context, another $300 million of which there is ongoing discussion to have that repatriated as well,” Reuters quoted the minister as saying to journalists on Monday.

    In 2014, Nigeria and the Abacha family reached an agreement for the country to get back the funds, which had been frozen, in return for dropping a complaint against Abba Abacha, the son of the former military ruler.

    He was charged by a Swiss court with money-laundering, fraud and forgery in April 2005, after being extradited from Germany, and subsequently spent 561 days in custody. In 2006, Luxembourg ordered that funds held by the younger Abacha be frozen.

    President Muhammadu Buhari, who took office in May, has made tackling corruption a priority. He has asked the Britain and the United States for help recovering money stolen from Africa’s biggest economy by some of the country’s elite over several years.

     

  • FG ‘inherited’ N13.6b Abacha loot

    FG ‘inherited’ N13.6b Abacha loot

    The ‎President Muhammadu Buhari’s administration on Thursday disclosed that it inherited a total of N13.6 billion from the Goodluck Jonathan’s administration as loot recovered from family of former Head of State, late Gen. Sani Abacha.

    Benue State Governor, Samuel Ortom, stated this to journalists at the end of the National Economic Council (NEC) meeting presided over by Vice President Yemi Osinbajo at the State House, Abuja.

    The NEC comprises state governors, federal attorney-general, Central Bank of Nigeria, Ministries of National Planning, Finance, and Federal Capital Territory.

    Ortom‎ said the balance of the Abacha loot as at end of November 2015 stood at $26,000,389 and £19,000,033 respectively.

    According to the governor, giving the exchange rate of N260 per dollar and N360 per pound, the total balance is estimated at N13.6 billion.

    Ortom said the Buhari administration which came on board in May this year, has not touched the money.

    He said: “We were also briefed on updates on Abacha loots in Council. The Accountant General of the Federation reported that the dollar account as at November 2015 ending has a balance of $26,000,389.00 while the pounds sterling has a balance of £19,000,033.00 That is where we are today.”

    Sokoto State Governor, Aminu Tambuwal, said the Governor of the Central Bank, Godwin Emefuele, briefed the Council on foreign exchange policy.