US raises red flag, says "FG is blocking efforts to recover re looted Abacha loot"
Afnews Editor
Feb 21, 2020
..opposes Buhari govt alleged plan to give Kebbi Gov $100 M
The United States is opposing alleged plan by the federal government to give $100 million out the recovered Sani Abacha loot to Kebbi State Governor, Atiku Bagudu.
READ ALSO: Why El-Rufai Was Returned To ICPC Custody?
Aside this, the U.S. is also asking Nigerians to help recover alleged stolen finds traced to Bagudu, the chairman of the All Progressives Congress (APC) Governors Forum.
Bloomberg reports that there has been commitment by Nigeria to transfer the funds to the governor, whom the U.S. Department of Justice (DoJ) says was involved in corruption with Abacha.
READ ALSO: JUST IN: Another Obaseki's Commissioner Resigns 10 Days To Election
The U.S. and Nigeria recently agreed on the repatriation of over $308million to the African nation.
READ ALSO: Senate Confirms NDIC Governing Board | READ DETAILS
The U.S. Department of Justice believes Nigeria is blocking U.S. efforts to recover allegedly laundered money traced to Bagudu.
The department in a statement on February 3, disclosed that Bagudu was part of Abacha network that "embezzled, misappropriated and extorted billions from the government of Nigeria.ÔÇØ
READ ALSO: RUGA: IN JUST 1 MONTH, ABIA NORTH IS NOW A LAUGHING STOCK, SEN. MAO FIRES SEN. KALU
But the Buhari administration allegedly insisted that an existing 17-year-old agreement entitles Bagudu to a fraction of the repatriated funds.
READ ALSO: Sowore's Miscalculation and the Need to beat a Wise Retreat
This argument was contained in recent filings from the District Court for the District of Columbia in Washington.
It recalled that in 2013, the U.S., following a Nigerian government request in 2012, initiated a forfeiture action, including four investment portfolios held in London in trust for Bagudu and his family.
READ ALSO: I Will Not Allow Criminality As President, Peter Obi Declares
Now, the Buhari government says it cannot assist because it is legally bound by a settlement Bagudu reached with the Olusegun Obasanjo administration in 2003, according to the court filings.
Under the terms approved by a U.K. court, Bagudu returned $163 million of alleged laundered money to th Nigerian government, which then dropped all outstanding civil and criminal claims against him.
READ ALSO: 2023: 10 Reasons Why I Want To Represent Aba Central State Constituency - Mathew Uchechukwu Okorie
This information was contained in a December 23, 2019, memorandum opinion by District Judge John D. Bates in Washington D.C.
"This case illustrates how complex and contentious repatriating stolen assets to Nigeria can be,ÔÇØ said Matthew Page, an associate fellow at London-based Chatham House
READ ALSO: Why El-Rufai Was Returned To ICPC Custody?
The former Nigeria expert for U.S. intelligence agencies added that instead of welcoming U.S. efforts, "Nigeria's lawyers appear to be supporting the interests of one of the country's most powerful families.ÔÇØ
Successive Nigerian governments have so far repatriated more than $2 billion out of the $5billion Transparency International estimated Abacha stole.
READ ALSO: JUST IN: Another Obaseki's Commissioner Resigns 10 Days To Election
Credit
Related Stories
REVEALED: How All Progressives Congress (APC) Played Into The Opposition Hands Ahead Of 2027 - Sumner Sambo Warns
I Will Not Allow Criminality As President, Peter Obi Declares
Why El-Rufai Was Returned To ICPC Custody?
Sowore's Miscalculation and the Need to beat a Wise Retreat
Tinubu Breaks Silence on Hardship, Inflation, Power Crisis - Vows Nigeria Will Overcome Economic Storm
"Terrorists Have Outgunned Our TroopsÔÇØ - Ndume Raises Alarm Over Boko Haram War, Sends Urgent Message To Tinubu
""
— Afnews Editor