Monday 18 April 2016

U.S. agrees to give Nigeria $480m Abacha family loot

U.S. agrees to give Nigeria $480m Abacha family loot
United States has agreed to repatriate to Nigeria about $480million believed to have been stolen by the late Head of State, Gen. Sani Abacha and his family.

But the conditions for the repatriation of the cash  and other details are being worked out, The Nation has learnt.
Also, it was learnt that the Department of Justice in the United States now has a Kleptocracy Unit, which will assist to track looted funds and money laundered by public officials from Nigeria and other nations.
The planned repatriation is the outcome of the recent meeting between the Department of Justice and the Attorney-General of the Federation, Abubakar Malami (SAN) and the Acting Chairman of the Economic and Financial Crimes Commission( EFCC), Mr. Ibrahim Magu.
A source, who spoke in confidence with The Nation, said: “This is the largest loot ever traced to a former Nigerian public officer in the U.S.

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