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| Gen. Sani Abacha |
The Federal Government may lose $550million to the United States, owing to technicalities.
The whopping amount is part of the Abacha Loot stashed in the country by the late former Head of State, Gen. Sani Abacha.
The concern was raised Thursday by the
Chairman, Presidential Advisory Committee Against Corruption (PACAC),
Prof. Itse Sagay (SAN).
Sagay, who made the disclosure at a
press conference jointly organised by his Committee and the Office of
the Senior Special Assistant to the President on Foreign Affairs and the
Diaspora, Mrs Abike Dabiri-Erewa regretted an earlier loss of $480
million to the same country.
If this happens, the Federal Government would have forfeited a total of $1.3 billion to the US.
The PACAC’s chairman said the development was contrary to the earlier promise the US government, to repatriate stolen funds.
“Nigeria presently stands to lose
another 550 million dollars recovered from the Abacha family to the
U.S., contrary to the earlier promise by the U.S. to return same to
Nigeria,” Sagay said.
According
to him, Switzerland had, at different times, visited the forfeiture
policy on the country. He said: “Out of the Abacha loot for instance,
Switzerland seized over 505.5 million dollars between 2004 and 2006.”
Read more at: New Telegraph
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