late Gen. Abacha loot: US to return $480million to Nigeria

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The U.S has taken control of $480million which is part of money stolen by former military dictator General Sani Abacha, after a court ruling in D.C on Wednesday August 6th. The U.S Department of Justice will now hand over the stolen money to Nigerian government, U.S government spokesman said yesterday.

According to court documents, late General Abacha, his son Mohammed Sani Abacha, their associate Abubakar Atiku Bagudu and others embezzled, misappropriated, extorted money from the Nigerian government and stashed them in various banks across the world. Continue...
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FG Uncovers Fresh ₦3.2tr Abacha Loot

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Billions of dollars stashed away in foreign bank accounts by the late military dictator, Gen. Sani Abacha, may far exceed the already established $5 billion, as a Special Investigation Panel (SIP), tracing what has now become ‘Abacha loot,’ has stumbled on fresh clues indicating that the stolen funds still trapped in offshore accounts stand at over 

 ₦3.2 trillion.

A competent source close to the panel, whose office is in the presidency told Saturday Sun that about four different meetings between the SIP team headed by a retired senior military officer and a Switzerland-based lawyer, Enrico Monfrini, hired by the Federal Government to assist in the recovery of the Abacha loot in foreign jurisdictions, had taken place outside the country in the last eight months.

After Saying Abacha Never Stole, Buhari Embarrassed as More Abacha Loot is Uncovered

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Former military Head of State, Muhammadu Buhari, who served Abacha as Executive Chairman of the Petroleum Trust Fund (PTF) has come under some embarrassment over his comments in 2008 that Abacha never stole as new Abacha loot has been traced.

Buhari, in 2007, described the allegations of looting against Abacha as “baseless”, because according to him, “ten years after Abacha, those allegations remain unproven because of lack of facts”.

However, fresh facts emerged that the previous estimate of what Abacha stole which stood at $5 Billion may be wrong.