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Friday 19 January 2018

EFCC Launches Investigation as $500m Recovered Abacha Loot Goes Missing Again

Where is $500 million recovered from the late Gen. Sani Abacha’s family? This is the question the Economic and Financial Crimes Commission (EFCC) is battling to answer.

The cash was recovered from the family of the late Head of State during ex-President Goodluck Jonathan’s administration.

It was repatriated from slush accounts in foreign jurisdictions.

The foreign governments, which released the loot to the Federal Government after hard negotiations, demanded that the cash be used for concrete developments, including infrastructure, such as roads, water, healthcare and education.

EFCC detectives tracking the $500million have discovered that it was diverted.

Of the $500million, about $250million was released to the Office of National Security Adviser (ONSA)during the tenure of Col. Sambo Dasuki without appropriation. The balance of $250million cannot be traced yet.

According to a fact-sheet on the investigation, the $250million was withdrawn between March 2, 2015 and April 21, 2015.

Culled from TheNation

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