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Published On: Thu, Mar 27th, 2014

Abacha loot: FG lauds US’ forfeiture proceedings

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By Sunday Ejike Benjamin

The federal government yesterday lauded the forfeiture proceedings initiated by the United States Department of Justice against the property related to the corrupt conduct of the former Head of state, Late General Sani Abacha and his associates and the subsequent laundering of corruption proceeds.

A statement by the Attorney General of the Federation and Minister of Justice, Mr. Mohammed Bello Adoke (SAN) said the proceedings will make, if possible for the defendants to forfeit over $550 million and £95,910 in ten accounts and six investment portfolios linked to the Abachas in France, the Britain, British Virgin Islands and the United States.

“We applaud the efforts of the United States to recover the proceeds of corruption for the benefit of the people of Nigeria. As the Central Authority for the Federal Republic of Nigeria, my office has received requests for Mutual Legal Assistance for the Central Authority of the United States and we are cooperating with the US in line with the obligations we assumed under the Treaty on Mutual Legal Assistance in Criminal Matters.

“The overall objective of these efforts is to ensure that Nigeria as the Victim State is able to have the forfeited assets (money) repatriated to Nigeria to fund development projects for the benefit of the people in accordance with the dictates of Chapter IV of the United Nations Convention against corruption (UNCAC)”, he said and assured that Nigeria as State Party to UNCAC will do all that is required to realize the objective.

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