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Wednesday 5 March 2014

U.S. Freezes over $458 million Abacha Loot

The United States Department of Justice today revealed that the US has frozen more than $458 million hidden in bank accounts in the Channel Islands and France by former military dictator, Gen. Sani Abacha who served as Nigeria's Head of State from 1993 till his demise in 1998.



The Justice Department also disclosed that it is seeking forfeiture of another $100 million believed to be in four investment portfolios and three bank accounts in the United Kingdom, including the British Virgin Islands. Abacha's loot, the department noted, is the largest civil forfeiture case ever brought against a foreign leader by the United States.

Ironically, the late military dictator who was also involved in many cases of human rights abuses, was last week given a post humous award for his contributions to the growth of Nigeria at the country's Centenary Awards/Dinner. This prompted Nobel Laureatte, Prof. Wole Soyinka, to openly and angrily reject his 'own share of this national insult'.

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