Emerging reports have confirmed the recovery of $23.5 million in looted funds by Nigeria’s former head of state, late General Sani Abacha. Announcement of the recovery was made in a statement published on the official website of the United Kingdom’s National Crime Agency (NCA) on Thursday, May 5. gathered that the $23.5million recovery made by the NCA comprises of the loots identified by the United States Department of Justice (USDOJ) which was believed to have been mismanaged by the late dictator and his cohorts. As further gathered, it was revealed that based on the request of the USDOJ. It will be recalled that the NCA embarked on seven-year protracted litigation and international negotiation to obtain a recovery order. This order was meant to trigger the US forfeiture order relating to the recovered monies. The funds have now been transferred to the Home Office for onward transmission to the USDOJ. According to the NCA Asset Denial Senior Manager, Billy Beattie, he said that all efforts are in place to intercept any attempt to make the UK a safe haven from money laundering.
He said: “We work closely with UK and international partners to tackle the threat posed by corruption, which disproportionately impacts the poorest and most vulnerable members of society. We are committed to ensuring that those who perpetuate corruption do not benefit from their actions.”
The NCA case is ongoing with further monies having been identified by the USDOJ as having also been misappropriated by Abacha and his associates.