The United States of
America 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.
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 reported that:
“This is the largest loot ever traced to a former Nigerian public officer in
the U.S.
“The DOJ, the AGF and
the EFCC have concluded all the talks; we are in the process of repatriation of
the $480million.
“Although there are
interventions from private lawyers, the DOJ prefers a government-to-government
deal.
“I can tell you that
the funds will soon be repatriated. If there is anything left, it has to do
with the conditions which the US will attach to the utilisation of the funds.
“The US is likely to
advise on specific areas to spend the funds on and the project monitoring
mechanisms. It does not want the cash re-looted.”
In the source’s view,
there is no hiding place for Nigerian treasury looters in the United States
anymore.
“The Federal
Government and the U.S. on January 14, 2003 signed the Treaty on Mutual Legal
Assistance in Criminal Matters between the two nations. So, no corrupt public
officers from Nigeria can hide in the US.
“At the session with
AGF and the EFCC boss, they told the Nigerian team that the DOJ now has
Kleptocracy Unit which is closing tabs on Political Office Holders and other
public officers in this country and many other nations.”
The Department of
Justice of the United States had in the last few years initiated forfeiture
proceedings against the Abachas.
The proceedings made
it possible for the Abacha family and its associates to forfeit over
$550million and £95,910 in 10 accounts and six investment portfolios linked to
them in France, Britain, British Virgin Islands and the United States.
The Criminal Division
of the Office of International Affairs of the US Department of Justice, in a
letter to the Federal Government, identified the accounts where Abacha loot was
hidden.
The highlights are as
follows: Doraville Properties Corporation – $287 million in Account Number
80020796 located at Deutsche Bank International Limited in the Bailiwick of
Jersey; HSBC Fund Administration (Jersey) – $12 million in account number
S-104460 in the Bailiwick of Jersey; and Rayville International, S. A – $1
million in account number 223405880IUSD at Banque SBA in Paris, France.
Others are Standard
Alliance Financial Services Limited – $144 million in account 223406510PUSD at
Banque SBA in Paris; Mecosta Securities – $21.7 million in accounts 10030688
and 100138409 at Standard Bank in the United Kingdom; and HSBC Bank Plc – $1.6
million in account number 38175076.
Also listed are Blue
Holding (1) Pte Ltd/ Ridley Group Limited – £6,806,900; Blue Holding (2) Pte.
Ltd/ Ridley Group Limited – £21,846,983; Blue Holding (1) Pte. Ltd/ Ridley
Group Limited – £10,293,343.58; Blue Holding (2) Pte. Ltd/Ridley Group Limited
– £56,962,996.26
It was learnt that the
Abacha family had pledged to cooperate with the Federal Government.
But the EFCC is still
probing the whereabouts of £22.5m (N6.18billion) loot which the late Gen.
Abacha allegedly stashed away on the Island of Jersey.
No fewer than three
prominent Senior Advocates of Nigeria (SAN) have been quizzed by the EFCC on
the whereabouts of the records of the recovered £22.5m (N6.18billion).
According to records,
the late Head of State allegedly stashed the funds through a Lebanese called
Bhojwani.
But when the Office of
the AGF was alerted by a whistle-blower, the administration of ex-President
Goodluck Jonathan opened discussions with the Attorney-General of the Island of
Jersey.
“The AG of the Island
of Jersey cooperated fully with the government, leading to the repatriation of
the £22.5m. EFCC is still searching for the records from those involved.
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