United States Announces Another $319 Million Abacha Loot Discovered In United Kingdom, France

United States Embassy in Nigeria has announced another discovery of $319 million (N121bn) looted by former Nigeria military dictator, Sani Abacha.

This is coming just a week after $311 million (N118bn) Abacha loot was returned to Nigeria from the US and the Bailiwick of Jersey.

In a statement on Wednesday, the US Embassy said there is $319 million Abacha loot in the United Kingdom and France.

“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 embassy said.

We gathered that the repatriation of the $152 million to Nigeria is being challenged by the UK and the US in a court.

According to Bloomberg, the two countries are challenging its repatriation to Nigeria on the allegation that Nigerian government was planning to give $110 million of the money to Kebbi State Governor, Atiku Bagudu, a known associate of the late Abacha.

However, the Attorney-General of the federation, Abubakar Malami (SAN), has denied that such deal with Bagudu never happened, but court papers say otherwise.

Meanwhile, the Presidency had said that the $311 million Abacha loot earlier returned last week has been allocated for infrastructure development in the country, adding that without the returned funds, the fight against coronavirus would have been tougher.