Nigeria gets back $227m looted by dictator

2014-06-20 07:50


Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Lagos - Liechtenstein is returning $227m looted by Nigeria's late military dictator after the Nigerian government made a deal and dropped corruption charges against his eldest son, the government said Thursday.

But a leading advocacy group warned that any returned money likely will be stolen again and called the government move "a celebration of corruption."

With the charges dropped, supporters of Mohammed Abacha, son of the late dictator General Sani Abacha, said that paves the way for him to run for governor of northern Kano state on the ticket of the ruling People's Democratic Party of President Goodluck Jonathan.

Neither Abacha nor party officials could immediately be reached for comment and Abacha's supporters insisted on anonymity because they were not authorised to speak to reporters.

Mohammed Abacha is wanted in the United States for his alleged part in laundering at least $458m in funds stolen by his father and frozen by the US in February.

Human rights activists have accused Jonathan and his government of consistently rewarding instead of punishing those accused of corruption. Nigeria, Africa's most populous nation, is a country where graft colors every facet of life and keeps the majority in abject poverty.

Suspicious circumstances

A statement from Nigeria's Ministry of Finance on Thursday said it has taken the government 16 years to win the agreement to return the money banked in Liechtenstein, most recently held up by a lawsuit filed by Abacha family companies with the European Court of Human Rights.

The Abachas agreed to drop the suit in return for the government dropping charges against Mohammed Abacha, the statement said. It said spending of the money would be overseen by a government committee and the World Bank.

The World Bank also had oversight on the spending of $505m in Abacha loot returned by Switzerland to Nigeria's previous administration, in which Jonathan was vice president. Swiss and Nigerian advocacy groups say $250m of that money cannot be accounted for.

"Such funds should not be released directly to the government, especially in the light of the withdrawal of the suit against Abacha's son," Adetokunbo Mumuni of the Socio-Economic Rights and Accountability Project told The Associated Press.

He said his group will continue to press the US attorney general to return any frozen funds to Nigerian charities or US charities working in Nigeria to ensure it is not again looted.

Abacha seized power in a coup in 1993 and died in suspicious circumstances in 1998 while he was still in office. He is believed to have stolen up to $5bn. Other reported seizures of his suspected loot include $630m in Luxembourg and $450m in Britain.
- AP
Read more on:    goodluck jonathan  |  nigeria  |  west africa

Read News24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Inside News24


Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go! - shop online today

Save up to 40% on outdoor accessories!

Tents, sleeping, day packs and more. While stocks last. Shop now!

Month End Madness Sale!

Save up to 60% on across a wide range of goods from books to electronics, DVDs and many more. Sale end 31 January 2015. Shop now!

Valentine’s Day gifts – 14 Feb!

Gifts to spoil him and her. While stocks last. Shop now!

30% off fragrances

Get 30% off fragrances for him and her. While stocks last. Shop now!

Up to 30% off All Textbooks

Save up to 30% off an extensive range of prescribed textbooks for all major universities and FET colleges. Shop Now!

OLX Free Classifieds [change area]


Something is blocking the flow of things today and it is easy to become frustrated and pessimistic. The problem is that your more

There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.