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 our
correspondent, said: “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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