‘U.S. Won’t Deal with Third Party on Abacha’s $500 Million Loot’

Enterprise Television- ‘U.S. Won’t Deal with Third Party on Abacha’s $500 Million Loot’

The United States said that it will only deal directly with Nigeria Government for the restitution of $500 million Abacha loot.

According to a report, Officials of the US Department of Justice (DoJ) told President Muhammadu Buhari during his visit to the US that they would not deal with any third party in the restitution of the funds.

The recoveries were made in 2014 by Former President, Goodluck Jonathan government and domiciled with the US government and all the lawyers involved had been paid four per cent of the funds as their fees

In a recent report, America has promised to return the $500 million but without the involvement of the appointed intermediaries. However, the Nigerian Government has also undertaken to spend the money on social protection programmes.

According to details, the DoJ initiated a legal action in November 2013 on the request of then attorney-general, Mohammed Bello Adoke, to confiscate assets worth $500 million traced to the Abacha family in France, Jersey and the UK.

Following a civil forfeiture complaint, the DoJ froze $280 million of Abacha Loot in Jersey, $140 million in France and $40 million in England.

The $321 million recovered from Luxembourg in 2014 under President Jonathan was domiciled with the attorney-general of Switzerland pending the signing of a MoU to avoid the mismanagement associated with previous recoveries.

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