The Federal Government will seek for the repatriation of over $550million and £95,910 in 10 accounts and six investment portfolios linked to the Abachas in France, Britain, British Virgin Islands and the United States, Attorney-General of the Federation and Minister of Justice, Mr. Mohammed Bello Adoke, said yesterday.
He said the government is in support of the forfeiture proceedings initiated by the United States Department of Justice against the property related to the corrupt conduct of the late General Sani Abacha, a former Head of State.
Adoke in a statement in Abuja, against the backdrop of the forfeiture proceedings against the Abachas and their cronies.
Following the freezing of over $550m looted funds by the late Gen. Abacha, the United States wrote the Federal Government for assistance to serve forfeiture notice on the son of the former dictator, Mohammed Abacha, an associate of the ex-ruler, Abubakar Atiku Bagudu, and Dumez Nigeria Plc.
The AGF’s statement said the government would use the repatriated loot to fund projects for the benefit of the people, in accordance with the dictates of Chapter IV of the United Nations Convention against corruption (UNCAC).
The statement added: “The Federal Government of Nigeria welcomes the forfeiture proceedings initiated by the United States Department of Justice against the property related to the corrupt conduct of the late General Sani Abacha, a former Head of State of Nigeria, and his associates and the subsequent laundering of corruption proceeds.
“The proceedings will make it possible for the defendants to forfeit over $550million and £95,910 in 10 accounts and six investment portfolios linked to the Abachas in France, the Great Britain, British Virgin Islands and the United States.
“We applaud the efforts of the United States to recover the proceeds of corruption for the benefit of the people of Nigeria.
“As the Central Authority for the Federal Republic of Nigeria, my office has received requests for Mutual Legal Assistance for the Central Authority of the United States and we are cooperating with the United States in line with the obligations we assumed under the Treaty on Mutual Legal Assistance in Criminal Matters.
“The overall objective of these efforts is to ensure that Nigeria as the Victim State is able to have the forfeited assets (money) repatriated to Nigeria to fund development projects for the benefit of the people in accordance with the dictates of Chapter IV of the United Nations Convention against corruption (UNCAC).
“Let me assure you that Nigeria as State Party to UNCAC will do all that is required to realise this objective.
The US Department of Justice letter had contained a breakdown of some of the accounts and investment firms/ banks where the looted funds were stashed abroad.
The highlights are as follows: Doraville Properties Corporation – $287 million in Account Number 80020796 located at Deutsche Bank International Limited in the Bailiwick of Jersey; HSBC Fund Administration (Jersey) – $12 million in account number S-104460 in the Bailiwick of Jersey; and Rayville International, S. A – $1 million in account number 223405880IUSD at Banque SBA in Paris, France.
Others are Standard Alliance Financial Services Limited – $144 million in account 223406510PUSD at Banque SBA in Paris; Mecosta Securities – $21.7 million in accounts 10030688 and 100138409 at Standard Bank in the United Kingdom; and HSBC Bank Plc – $1.6 million in account number 38175076;.
Also in the list are Blue Holding (1) Pte Ltd/ Ridley Group Limited – £6,806,900; Blue Holding (2) Pte. Ltd/ Ridley Group Limited – £21,846,983; Blue Holding (1) Pte. Ltd/ Ridley Group Limited – £10,293,343.58; Blue Holding (2) Pte. Ltd/Ridley Group Limited – £56,962,996.26
In the letter to the Federal Government by the Associate Director, Criminal Division of the Office of International Affairs of the US Department of Justice, Jeffrey M. Olson, the US government said it sought the help of Nigeria in line with January 14, 2003 Treaty on Mutual Legal Assistance in Criminal Matters between the two nations.
Nigeria government to request Abacha loot from US government
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