Abacha Loot: US opposes Buhari govt alleged plan to give Kebbi Gov, Atiku $100m

[Edoman]

NEWS
Abacha Loot: US opposes Buhari govt alleged plan to give Kebbi Gov, Atiku $100m

 February 21, 2020


The United States is opposing alleged plan by the federal government to give $100 million out the recovered Sani Abacha loot to Kebbi State Governor, Atiku Bagudu.

Aside this, the U.S. is also asking Nigerians to help recover alleged stolen finds traced to Bagudu, the chairman of the All Progressives Congress (APC) Governors Forum.

Bloomberg reports that there has been commitment by Nigeria to transfer the funds to the governor, whom the U.S. Department of Justice (DoJ) says was involved in corruption with Abacha.

The U.S. and Nigeria recently agreed on the repatriation of over $308million to the African nation.

The U.S. Department of Justice believes Nigeria is blocking U.S. efforts to recover allegedly laundered money traced to Bagudu.
The department in a statement on February 3, disclosed that Bagudu was part of Abacha network that “embezzled, misappropriated and extorted billions from the government of Nigeria.”

But the Buhari administration allegedly insisted that an existing 17-year-old agreement entitles Bagudu to a fraction of the repatriated funds.

This argument was contained in recent filings from the District Court for the District of Columbia in Washington.
It recalled that in 2013, the U.S., following a Nigerian government request in 2012, initiated a forfeiture action, including four investment portfolios held in London in trust for Bagudu and his family.

Now, the Buhari government says it cannot assist because it is legally bound by a settlement Bagudu reached with the Olusegun Obasanjo administration in 2003, according to the court filings.

Under the terms approved by a U.K. court, Bagudu returned $163 million of alleged laundered money to the Nigerian government, which then dropped all outstanding civil and criminal claims against him.

This information was contained in a December 23, 2019, memorandum opinion by District Judge John D. Bates in Washington D.C.

“This case illustrates how complex and contentious repatriating stolen assets to Nigeria can be,” said Matthew Page, an associate fellow at London-based Chatham House

The former Nigeria expert for U.S. intelligence agencies added that instead of welcoming U.S. efforts, “Nigeria’s lawyers appear to be supporting the interests of one of the country’s most powerful families.”

Successive Nigerian governments have so far repatriated more than $2 billion out of the $5billion Transparency International estimated Abacha stole.

[Edoman]

Garba Shehu Reacts To Uproar Over Plan To Give $100 Abacha Loot To Bagud


The Presidency, in a reaction to the report on an alleged attempt by the federal government to hand over about $100 million United States authorities say was stolen by a former Head of State, Gen. Sani Abacha, to Kebbi State Governor Abubakar Bagudu, advised against any action that would complicate ongoing efforts to recover more money from abroad.

The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, when contacted yesterday, said the Embassy of the United States might be approached for any clarification on the agreement already reached by the three parties.

Shehu, in a text message to our correspondent, said: “We have a lot more money to recover oversees and no one has the right to complicate things for the government of our country. “The U.S. and the British crown dependency of Jersey have agreed with the president and government of Nigeria to repatriate $308m connected to General Sani Abacha, the three governments said.

“By a decision of this government, the entire sum will be paid to the Nigerian Sovereign Investment Authority (NSIA), and will be used in expediting the construction of the three major infrastructure projects across Nigeria – namely Lagos – Ibadan Expressway, Abuja – Kano Expressway and the Second Niger Bridge.

“The position of the Buhari administration is still the same on this. The Embassy of the U.S. may be approached for any clarification on the agreement already reached by the three parties.”

The report said that the Buhari administration says a 17-year-old agreement entitles Bagudu to the funds and prevents Nigeria from assisting the U.S., according to recent filings from the District Court for the District of Columbia in Washington. The disagreement, according to Bloomberg, may hamper future cooperation between Nigeria and the U.S. to recover money moved abroad by Abacha.

“This case illustrates how complex and contentious repatriating stolen assets to Nigeria can be,” Bloomberg quoted Matthew Page, an associate fellow at London-based Chatham House and former Nigeria expert for U.S.

Intelligence agencies, as saying. “Instead of welcoming U.S. efforts, Nigeria’s lawyers appear to be supporting the interests of one of the country’s most powerful families,” he added.

https://www.dailytrust.com.ng/presidency-reacts-to-uproar-over-plan-to-give-100-abacha-loot-to-gov-bagudu.html