Saturday 20 January 2018

$500m Abacha Loot reportedly goes Missing

$500 million recovered from the slush accounts of Sani Abacha in foreign countries during the Goodluck Jonathan administration has disappeared, The Nation reports.
The money was reportedly released to the Nigerian government after negotiations with foreign governments, the agreements including that the Nigerian government would employ the recovered funds in developments, including infrastructure such as roads, water, healthcare and education.
The Economic and Financial Crimes Commission (EFCC) has reportedly found that $500 million out of the recovered funds cannot be accounted for.
Of the $500 million, the sum of $250 million has reportedly been discovered by the EFCC to have been released to the Office of National Security Adviser (NSA)while Sambo Dasuki headed the office.
The fact sheet of the investigation, as seen by The Nation, reveals that the $250 million was withdrawn between March 2, 2015 and April 21, 2015.
$36,155,000 was reportedly found to be withdrawn “without any purpose” on March 2, 9, 16 and 18, 2015.
The fact sheet also revealed that the office of the NSA, in a memo dated January 12, 2015, requested that the former Coordinating Minister for the Economy and Minister of Finance, Ngozi Okonjo-Iweala, remit the sums of $300 million and £5.5 million.

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