BEVERLY HILLS, November 15, (THEWILL) – The United States government has laid claim to the $300million loot stashed in Jersey, an island in the United Kingdom by the late military dictator, Gen Sani Abacha.
This was revealed in Lagos by the Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN) and rights activist, Femi Falana (SAN).
It was said that America prevented judgement by telling a court that it had an interest in the loot because it was saved in its currency, the US dollar.
Malami, Falana, and Okoi Obono-Obla, Chairman, Special Investigative Panel on Assets Recovery, were participants at a seminar organised by the Socio-Economic Rights and Accountability Project (SERAP).
The seminar, with the theme: “Promoting Transparency and Accountability in the Recovery of Stolen Assets in Nigeria: Proposals for Reform”, was organised in collaboration with the Ford Foundation, USA.
The AGF, who was represented by his Senior Special Assistant on White Collar Crimes, Mr Abiodun Aikomo, hinted of the US’ involvement in the case while condemning public officials who ferry their loot abroad.
“We have seen instances where the Federal Government of Nigeria engaged counsel to recover our stolen assets and the matter went on for many years,” he said.
“On the eve of a judgment, the government of a country filed an application for joinder. This was a matter that was on for seven years and judgment was going to be delivered the next day.
“The government of the country filed, saying ‘Even though the money is not kept in our bank, even though you would think we do not have any connection with the funds, the money is in our currency and we are talking about hundreds of millions in our currency. So, if you’re moving those funds from our state, then we are interested.’
“That was how the judgment was more or less arrested. So, the people stealing money and taking it out of Nigeria are doing us a lot of evil, because the .moment the money leaves Nigeria it assumes another dimension.”
Falana specifically identified the US as the country concerned as he accused the United States, Switzerland, the UK and other western nations of hypocritical behaviour in Nigeria’s quest to recover loot stashed in their banks.
“Nigeria traced part of the Abacha loot (over $300m) to Jersey, an island in the United Kingdom. The Attorney-General filed a process to – by the way I was in that country when the person was convicted. The money left Nigeria through Kenya and landed in Jersey. It was from the late Abacha,” he said.
“Nigeria wanted to collect the remaining loot. But the United States filed an objection, saying the money could not be released to Nigeria.
“The court asked why; the US said if the money must be released, it should be released to the US government, so that ‘we can manage it for Nigeria.’
“The other one, $321million, Switzerland, a notorious conduit for corruption, had the temerity to say that ‘unless the World Bank is going to manage this money, we are not going to release this money.
“The United Nations Convention Against Corruption has made adequate provisions against corruption, mandating countries to assist each other but western countries have not been helping us. Our government should stop relying on the west.
“From five cycles of independent audit reports covering 1999-2012 the National Extractive Industries Transparency Initiative revealed that the Nigerian National Petroleum Corporation, some oil companies and certain agencies of the Federal Government have withheld $20.2 billion from the Federation Account.
“In 2006, the Central Bank of Nigeria removed $7 billion from the nation’s external reserves and placed same as deposit in 14 Nigerian banks. In 2008, the Bank gave a bailout of N600 billion ($4 billion) to the same banks. Up till now the CBN has failed to recover the said sum of $11 billion from the banks.
“On September 6, 2016 the Nigerian National Petroleum Corporation (NNPC) announced that arrangements had been concluded to recover the sum of $9.6 billion in over-deducted tax benefits from joint venture partners on major capital projects and oil swap contracts. The NNPC is said to have recovered the said sum of $9.6 billion but has not remitted same into the Federation Account.”
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