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General News of Friday, 6 May 2022

Source: www.mynigeria.com

UK government recovers $23m Abacha loot

Late Sani Abacha Late Sani Abacha

The National Crime Agency (NCA) of the United Kingdom has recovered the $23.5 million looted funds by family of former Nigerian Head of State, the late Sani Abacha.

According to NCA, the looted funds were retrieved after the USDOJ requested enforcement of the U.S. forfeiture order relating to the seized monies after nearly seven years of litigation and international negotiations to secure the recovery order.

It was also stated that the $23.5 million is part of large number of monies identified by the United States Department of Justice (USDOJ) as having been stolen out of Nigeria in the 1990s by Mr Abacha and his allies.

On Thursday, May 5, the U.K.’s crime agency shared a statement on its website, which states that the funds have been transferred to the Home Office of the UK for onward transmission to the USDOJ.

Asset Denial Senior Manager at the NCA, Billy Beattie, said the civil recovery of assets is a powerful weapon in the fight against corruption. Adding that the NCA is committed to ensuring that the UK is not an avenue for politicians to launder state funds.

The statement added;

“The NCA is committed to ensuring that the UK is not a haven for criminals to launder their proceeds of crime, and the civil recovery of assets is a powerful weapon in this fight.

“We work closely with the 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 perpetrate corruption do not benefit from their actions.”

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