Fresh $319m Abacha loot in UK, France, says U.S. | Dailytrust

Fresh $319m Abacha loot in UK, France, says U.S.

The United States says there is fresh $319 million looted by the Late Nigerian former Head of State, Gen. Sani Abacha, in United Kingdom and France.

The U.S., in a statement Wednesday in Abuja, through its embassy in Nigeria, disclosed that $167m of the loot is in France while UK has $152m of Abacha assets.

“The funds returned last week are distinct and separate from an additional $167m in stolen assets also forfeited in the United Kingdom and France, as well as $152m still in active litigation in the United Kingdom,” the American Embassy hinted in the statement.

Nigeria had on Monday received $311m Abacha’s “asset” which the Presidency said it had been allocated for key infrastructures in the country.

According to a report by Bloomberg, the Federal Government is seeking the approval of a UK court to take possession of the assets before transferring 70 percent of the proceeds to Kebbi State Governor Atiku Bagudu under the terms of an agreement signed in 2018.

The US Department of Justice had in February accused its Nigerian counterpart of hindering its efforts to recover the allegedly laundered money from the UK.

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, had denied allegations that Bagudu’s assets were not covered under the agreement which the Federal Government signed to recover funds looted by Abacha.

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