State of Jersey to return £315m Abacha loot to Nigeria

The State of Jersey, the biggest territory in the Channels Island, is set to return £315 million Abacha loot to Nigeria.

Mr Micheal Birt, the Ballif of Jersey stated this at a dinner in honour of Dr Dalhatu Tafida, Nigerian High Commissioner to the UK during a state visit to the Island.

Sani Abacha

Birt, who doubles as the Island’s Civic Head of State and ceremonial head, is the highest ranking official in the Jersey order of precedence.

Island, famous for its transparent banking services, had previously repatriated in two tranches £140 million of the loot.

correspondent of the News Agency of Nigeria, NAN, reports in London that the money was laundered on behalf of Abacha by Mr Raj Bhojwani, an Indian businessman. Bhojwani is currently serving an eight-year sentence in a UK prison.

Speaking on Jersey’s financial services and global perception of the Island, Birt said that the repatriated loot was in line with ongoing campaign against money laundering.

He said: “We have done a lot to clean up the image of the Island as a safe haven for stolen wealth. What we have in place is a transparent and legal finance heaven where only legal funds can be deposited and accessed by investors.”

In his response, Tafida commended Birt for the Island’s transparent banking sector, and informed them of government’s commitment to fighting corruption and strengthening its anti-graft agencies.

The high commissioner also spoke on the investment opportunities in all sectors of the economy, while laying emphasis on the nation’s GDP, and high return on investment rate.

Nigeria’s GDP has grown above 6.5 per cent per annul in the last six years.

He said: “The array of investment opportunities that abound in the country and generous incentives available to investors in all sectors of the economy, has continued to make it a global investment destination.”

The dinner was attended by top officials from the Jersey government and members of Tafida’s delegation. NAN reports that the visit marks the beginning of a bi-lateral relations with the Jersey. Officials from Jersey are expected to carry out a similar visit to Nigeria.

 

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State of Jersey to return £315m Abacha loot to Nigeria

IBB, Abacha, Jonathan, others responsible for North problems – Sani

The President, Civil Rights Congress of Nigeria, Mallam Shehu Sani, has said that 70 per cent of problems bedeviling the North are caused by ex-presidents and leaders of northern extraction.

The remaining 30 per cent, Sani said, should be attributed to President Goodluck Jonathan’s administration’s sectional leadership and neglect of the North.

The CRCN boss described as a “waste” the number of years ex-heads of state and presidents of northern extraction had piloted the affairs of Nigeria.

He argued that they had not only failed to empower the region but ruined it educationally, socially as well as economically.

He said the past leaders such as Gen. Yakubu Gowon, Shehu Shagari, Generals Muhammadu Buhari, Ibrahim Babangida, the late Sani Abacha, Abdulsalami Abubakar, as well as the late Umaru Yar’Adua, all from the region only left behind trails of poverty, discords among the people of diverse faiths and ethnicity rather than development.

Sani, who is aspiring for the seat of the Kaduna Central Senatorial District on the platform of the All Progressives Congress, argued that President Jonathan only compounded the woes of the region while past leaders of the North simply left a region whose future was in doubt.

The activist said this while addressing sacked and unpaid workers of textile industries in the North who gathered on the premises of the Kaduna Textile Limited, in Kaduna State on Saturday.

He added that the President only empowered the people of the South-South on the detriment of other citizens of the country.

He said, “70 per cent of the North is destroyed by northern leaders and 30 per cent is being destroyed by Jonathan. We must take the blame and must tell ourselves the truth. Northern leaders had the opportunity to industrialise, to educate and to uplift the social standard of the region but they left behind a trail of poverty, of discord among people of diverse faiths and ethnic affinities.

“They left behind a region backward educationally and industrially. They left behind a region whose future is in doubt. For over three decades when northerners were in power they used the opportunity to empower traditional rulers and some religious leaders as well as making the rich, richer and pauperised the common man.

“They were not able to do what Jonathan is doing by empowering the young and the Niger Delta militants who are being enriched today. It was a wasted opportunity which I believe should serve as a lesson next time when power is back to the region.”

While condemning the insurgency in the North, Sani noted that the only way out of the current challenges in the region was for its leaders to embark on rapid revival of its industries, agricultural sector as well as to harness the resources of the region, rather than over-depending on federal allocations.

He said, “I must at this junction condemn the ongoing violence in northern part of the country. This act of terror and the discord between the Muslims and Christians and the backwardness of the region must stop.

“We are concern that the northern part of Nigeria is today becoming a theatre of violence and mindless killings. If there are functional industries, educational system and leadership, the North could not have been where it is today.”

Earlier in his address, the General Secretary of the Coalition of Closed and Unpaid Textile Workers Association, Kaduna State, Mr. Ishar Iorngulum, had said the workers had decided to queue behind the candidature of Sani to become the next senator representing the Kaduna Central Senatorial District at the National Assembly in 2015.

He also said that they would mobilize their colleagues in other parts of the North to vote against some leaders in the region in the 2015 general elections.

Iorngulum, “It is the irresponsibility of the northern governors that led to the collapse of the textile industries in the North so we will vote against them in 2015 elections.”

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IBB, Abacha, Jonathan, others responsible for North problems – Sani

US takes control of Abacha loot

WASHINGTON (AFP) – The US Justice Department said Thursday it had won legal control of nearly a half-billion dollars worth of corrupt gains hidden in bank accounts by former Nigerian dictator Sani Abacha.

Abacha

The department said a court judgment on Wednesday gave it title to more than $480 million that Abacha, who ruled Nigeria from 1993 to 1998, and associates had embezzled and placed in accounts in Jersey, England, Ireland and France.

That took US authorities one step closer to eventually repatriating the money, only a portion of the billions allegedly stolen by Abacha, to Nigeria.

The US is still seeking control over another four Abacha-tied investment portfolios in Britain containing $148 million.

Based on the court judgement, the department will seek to have authorities in those four jurisdictions order banks to transfer the money to it, on the basis that the corrupt funds were originally moved through the US financial system.

“General Abacha and others systematically embezzled billions of dollars in public funds from the Central Bank of Nigeria on the false pretense that the funds were necessary for national security,” the justice department said.

“The conspirators withdrew the funds in cash and then moved the money overseas through US financial institutions.”

An army general deeply involved in Nigerian politics since the 1960s, Abacha ousted a transitional government in 1993 and assumed the role of head of state until he suddenly died in June 1998.

Assistant Attorney General Caldwell branded Abacha’s theft “brazen acts of kleptocracy” aided by his son Mohammed and his former associate and still-prominent politician Abubakar Atiku Bagudu.

Justice Department spokesman Peter Carr said it was not clear how long it would take to take possession of the funds and give them back to Nigeria.

“Our goal is to repatriate the recouped funds for the benefit of the Nigerian people,” he said.

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US takes control of Abacha loot

Presidency clears Abacha money laundering scandal to contest for Kano governorship election

Kano— The Presidency may have finally cleared the coast for Mohammed Abacha, the son of late General Sani Abacha, to join forces with pro Jonathan supporters and win back Kano State for Peoples Democratic Party, PDP, next year.

Competent sources toldVanguard that Wednesday’s withdrawal of the N446.3 billion money laundering charge against Abacha was aimed at giving him a clean bill to be able to run as PDP gubernatorial candidate in the next election.

A close associate of the family admitted, yesterday, that the Abachas were very excited about the withdrawal of the case against Mohammed by the Attorney General of the Federation, Mohammed Adoke, and that he would likely proceed with his gubernatorial campaign programme.

Some well wishers were also said to have stopped by on Wednesday and yesterday to congratulate Abacha and sympathise with him over his lingering trial by the government.

A top source in Kano explained, yesterday, that the Presidency, which considers Mohammed Abacha as one of the most influential young politicians in Kano, had primed him to challenge the rising political clout of Governor Rabiu Kwankwaso and secure victory for PDP in 2015.

Political structure

The Presidency, it was further learnt, believes that it was the solid political structure put in place by Mohammed Abacha that secured victory for Kwankwaso, who defected to APC last year.

The governor, who is said to be nursing a presidential ambition on APC’s platform, is, however, facing severe opposition from the Presidency particularly, after installing the former Central bank of Nigeria, CBN’s Governor, Sanusi Lamido Sanusi, as Emir of Kano, against the wish of the Presidency and his party, which reportedly preferred a different person.

The feeling in the Presidency is that with the appointment of the former Kano governor, Ibrahim Shekaru as a minister and the quashing of the charge against Abacha, it would be possible for them to whittle Kwankwanso’s political influence and make PDP take over Kano in the next election.

Campaign posters emerge

In preparation for the takeover of the mantle of power by Abacha, his giant, colourful and intimidating campaign posters have been placed by the side of the Kano State PDP Secretariat along New Court Road, Jedi Jedi Quarters of Kano metropolis in addition to opening of his campaign office along Audu Bako Way, also in the city.

Adorning the big office are the posters of Mohammed, President Goodluck Jonathan and the National Chairman of PDP, Alhaji Adamu Mu’azu.

A Kano politician described Mohammed Abacha as someone who enjoys a very “smooth rela-tionship and support of the youths of the town” and also has a deep understanding of the politics of the state.

The politician said: “Let me tell you, the junior Abacha enjoys the support of the people and also has a good working relationship with Shekarau.” (Vanguard)

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Presidency clears Abacha money laundering scandal to contest for Kano governorship election

How Abacha looted $2b, by U.S. report

The United States has opened up on how the late Head of State, Gen. Sani Abacha , his son, Mohammed, a friend of the family, Abubakar Atiku Bagudu and others looted about $2.2 billion through security votes fraud.

Abacha

Money was also stolen through the Ajaokuta Steel debt-buy back and extortion of Dumez Group, a company operating in Nigeria.

Mohammed Abacha and Bagudu might be imprisoned if they disobey the order freezing their assets.

The highlights of how the late Gen. Abacha and others looted the treasury were contained in a March 10, 2014 note to the Federal Government by the U.S. Department of Justice.

The document, which was sourced from the United States,  urged the Federal Government to “serve Mohammed Sani Abacha and Abubakar Atiku Bagudu with the record of proceedings under the United Kingdom Civil Jurisdictions and Judgments Act, which is needed to enforce the warrants of arrest in rem issued by the U.S. District Court for the District of Columbia”.

According to the document, Abacha and others laundered the looted funds through the United States.

Sixteen accounts and investment chains were traced to the Abachas in France, the United Kingdom, British Virgin Islands and the U.S.

Although the Abachas allegedly asked a former National Security Adviser, Aliyu Ismaila Gwarzo, to request for funds from the government to address “unidentified emergencies” to stabilise the then military administration, the ex-NSA was not indicted for money laundering.

There was nothing in the report suggesting that Gwarzo benefited from the loot.

Also, the report exposed how a former Minister of Finance, Chief Anthony Ani, was ordered by Gen. Abacha to repurchase some debt instruments worth 973 million Deutche Macs (the defunct German currency).

The US Department of Justice said: “General Sani Abacha was the President of Nigeria from 1993 to 1998. During his time in office, General Abacha, Mohammed Sani Abacha, Abubakar Atiku Bagudu (Bagudu) and others embezzled and extorted hundreds of millions of dollars from the Government of Nigeria. Abacha and his associates then transported and laundered the proceeds of those crimes through the United States.

“The prosecutor believes Abacha and his associates conducted three fraudulent schemes during his time in office: (1) the “security votes” fraud, through which more than $2 billion was embezzled from the Central Bank of Nigeria; (2) the Ajaokuta Steel debt buy-back fraud, which defrauded the Nigerian government of more than $200million through overpayment of non-performing debt; and (3) extortion of Dumez Group, a company operating in Nigeria, which was used to invest in Nigerian Par Bonds that were managed and traded in the United States.

“Between January 1994 and June 1998, General Abacha, Aliyu Ismaila Gwarzo (Gwarzo) and others prepared letters requesting funds from the Government of Nigeria, based on the false pretence that they were needed to ensure national security and the stability of General Abacha’s regime.

“In order to execute this scheme, Gwarzo submitted letters to General Abacha in his capacity as National Security Advisor, requesting millions of U.S. dollars, British pounds sterling, and/or Nigerian naira, to address unidentified ‘emergencies’ that threatened Nigeria’s national interest. General Abacha approved these request and disbursed the requested funds.

“These funds, however, were not used to ensure national security or stability of the regime. Instead, these funds were diverted to shell companies and personal accounts created by Mohammed Sani Abacha or Bagudu.

“In 1979, the Nigerian Steel Development Authority, an entity owned by the Government of Nigeria, entered into an agreement with TPF, a Russian company, to construct a steel plant in Nigeria for five billion German Deutschmarks (DM).

“Under this agreement, the Nigerian steel authority gave TPF promissory notes guaranteeing payment to the company. The Nigerian government later suspended payment on this debt because of a dispute that arose with TPF. As a result, TPF sought to sell off these instruments to recover some of the debt owed to the company.”

“In October 1995, Bagudu orchestrated a series of transactions whereby the debt instruments were sold at inflated process to a Liberian company, Parnar Shipping Corporation (Parnar) for 350 million DM. In turn, Parnar sold these bills for 481 million DM to Mecosta Securities (Mecosta), which resold them to the Nigerian government for 973 million DM. General Abacha’s Finance Minister, Chief Anthony Ani, personally approved the Nigerian government’s repurchase of these bills of exchange at the order of General Abacha.

“The Nigerian government purchase of the debt through Mecosta cost the government approximately 500 million DM more than if they bought the debt back directly from Parnar. Abacha and his associates subsequently acquired this money as another form of illicit profit.

“A French civil engineering company, Dumez Group, and its Nigerian affiliate, Dumez Nigerian Plc, had been involved in various civil engineering projects in Nigeria since the 1960’s.

“After General Abacha became President of Nigeria in 1993, he stopped payment on contracts between Nigerian government and foreign-based companies, including Dumez Group. As a result, Dumez Group was left with over $400 million in unpaid bills from the Nigerian government.

“An Abacha associate approached the company after payment ceased and informed the company that he could arrange for the government to resume payment if Dumez Group agreed to “kick back” twenty-five percent of what it received. Dumez Group agreed to these terms, and received over $389 million.

“In return, the company “kicked back” over $97 million, or twenty-five per cent, of that amount to General Abacha and his associates through a Swiss bank account controlled by Mohammed Sani Abacha.”

The document listed 16 accounts and assets to be forfeited by Gen. Abacha and his associates.

The Department of Justice added: “On November 18, 2013, the prosecutor filed a forfeiture action in the U.S District Court for the District of Columbia seeking to forfeit the proceeds of money laundering and corruption offences related to the investigation of General Abacha and his associates.

“The property sought to be forfeited by U.S. authorities include the following assets (collectively, the Defendant Properties):

•All assets held in account number 80020796, in the name of Doraville Properties Corporation, located at Deutsche Bank International Limited in the Bailwick of Jersey, and all interest, benefits, or asset traceable thereto;

•All assets held in account number S-104460, in the name of Mohammed Sani, at HSBC Fund Administration (Jersey) Limited in the Bailwick of Jersey, and all interest, benefits, or assets traceable thereto;

•All assets held in account number 223405880IUSD, in the name of Rayville International, S.A, at Banque SBA in Paris, France, and all interest, benefits or assets traceable thereto;

•All assets held in account number 223406510PUSD, in the name of Standard Alliance Financial Services Limited located at Banque SBA in Paris, France, and all interest, benefits, or assets traceable thereto;

•All assets held in account numbers 10030688 and 100138409, in the name of Mecosta Securities, at Standard Bank in the United Kingdom, and all interest, benefits or assets traceable thereto;

•All assets held in HSBC Life (Europe) formerly held in account number 37060762 in the name of Mohammed Sani at Midland Life International Limited, and all interest, benefit or asset traceable thereto;

•All assets in account number 38175076, in the name of Mohammed Sani, at HSBC Bank Plc, and all interest, benefits, or asset traceable thereto;

•All assets held in the name of Blue Holding (1) Pte. Ltd., on behalf of or traceable to Ridley Group Limited and/or the Ridley Trust, at J.O Hambro Investment Management Limited in the United Kingdom, and all interest, benefits, or assets traceable thereto;

•All assets held in the name of Blue Holding (2) Pte. Ltd., on behalf of or traceable to Ridley Group Limited and/or the Ridley Trust, at J.O Hambro Investment Management Limited in the United Kingdom, and all interest, benefits, or assets traceable thereto;

•All assets held in the name of Blue Holding (1) Pte. Ltd., on behalf of or traceable to Ridley Group Limited and/or the Ridley Trust, at James Hambro and Partners LLP, in the United Kingdom, and all interest, benefits, or assets traceable thereto;

•All assets held in the name of Blue Holding (2) Pte. Ltd., on behalf of or traceable to Ridley Group Limited and/or the Ridley Trust, at James Hambro and Partners LLP, in the United Kingdom, and all interest, benefits, or assets traceable thereto;

•Doraville Properties Corporation, a corporate entity registered in the British Virgin Islands, together with all its assets and all property traceable thereto;

•Mecosta Securities, Inc., a corporate entity registered in the British Virgin Islands, together with all its assets and all property traceable thereto;

•Rayville International, S.A, a corporate entity registered in the British Virgin Islands, together with all its assets and all property traceable thereto;

•Ridley Group Limited, a corporate entity registered in the British Virgin Islands, together with all its assets and all property traceable thereto; and

•Standard Alliance Financial Services Limited, a corporate entity registered in the British Virgin Islands, together with all its assets and all property traceable thereto;

“Following the filing of the Verified Complaints, the United States District Court for the District of Columbia issued sixteen warrants of arrest in rem, ordering the restraint of each of the Defendant Properties.

“The prosecutor has sought the enforcement of the warrants of arrest in rem in France, Jersey, British Virgin Islands, and the United Kingdom.

“The prosecutor is now required to provide notice of the U.S. forfeiture proceedings to Mohammed Sani Abacha, Abubakar Atiku Bagudu, and Dumez Nigeria Plc. Additionally, in order to enforce the warrants of arrest in rem for property located in the United Kingdom, the prosecutor must provide record of the U.K proceeding to Mohammed Sani Abacha and Abubakar Atiku Bagudu.” (0)

How Abacha looted $2b, by U.S. report

U.S. seizes $458 million stolen by Gen. Sani Abacha

In what has been described as “the largest kleptocracy forfeiture action ever in the United States, The U.S. Department of Justice has frozen more than $458 million in corruption proceeds hidden in bank accounts around the world by former Military dictator Gen. Sani Abacha and his conspirators.

Abacha

A civil forfeiture complaint unsealed yesterday in the United States District Court in the District of Columbia seeks recovery of more than $550 million in connection with “the largest kleptocracy forfeiture action brought in the department’s history.”

The restraint of funds announced yesterday includes approximately $313 million in two bank accounts in the Bailiwick of Jersey and $145 million in two bank accounts in France.

In addition, four investment portfolios and three bank accounts in the United Kingdom with an expected value of at least $100 million have also been restrained, but the exact amounts in the accounts will be determined at a later date.

Acting Assistant Attorney General Mythili Raman of the Justice Department’s Criminal Division and Assistant Director in Charge Valerie Parlave of the FBI’s Washington Field Office made the announcement.

“Gen. Abacha was one of the most notorious kleptocrats in memory, who embezzled billions from the people of Nigeria while millions lived in poverty,” said Acting Assistant Attorney General Raman.

“This is the largest civil forfeiture action to recover the proceeds of foreign official corruption ever brought by the department.  Through our Kleptocracy Initiative, we are seizing the assets of foreign leaders who steal funds that properly belong to the citizens they serve.  Today’s (yesterday’s) action sends a clear message: we are determined and equipped to confiscate the ill-gotten riches of corrupt leaders who drain the resources of their countries.

“We will not let the U.S. banking system be a tool for dictators to hide their criminal proceeds,” said Assistant Director in Charge Parlave.  “This action demonstrates the FBI’s ability to combat international corruption and money laundering by seizing the assets of those involved.  I want to thank the special agents, financial analysts and prosecutors whose hard work over the years resulted in today’s announcement.”

The over $458 million in frozen funds and the additional assets named in the complaint represent the proceeds of corruption during and after the military regime of Gen. Abacha, who assumed office through a military coup on November 17, 1993. He died in office on June 8, 1998.  The complaint alleges that Gen. Abacha, his son Mohammed, their associate Abubakar Atiku Bagudu and others embezzled, misappropriated and extorted billions from the government of Nigeria and others, then laundered their criminal proceeds through the purchase of bonds backed by the United States using U.S. financial institutions.

U.S. seizes $458 million stolen by Gen. Sani Abacha