– The President Buhari led FG have said
looters are blocking it from recovering
Abacha’s loot
– minister of foreign affairs, Mr Geoffrey
Onyeama said the person who deposited the
money might take a legal action to frustrate
the repatriation of the fund
– The minister however could not state how
much the Buhari administration had
recovered since it took over power
Can President Buhari recover stolen loots?
Federal government has revealed that it has
suffered a setback in repatriating £300m
stolen funds from the State of Jersey.
The minister of foreign affairs, Mr Geoffrey
Onyeama who made this known during a
press conference in Abuja said in 2014 that
Jersey had repatriated, in two tranches
£140m of the loot belonging to the late
Head of State, Gen. Sani Abacha, which was
laundered on his behalf by Mr Raj Bhojwani,
an Indian businessman.
He said one of the challenges with
repatriating stolen funds was that even after
Nigeria and the country hosting the stolen
money had reached an agreement, the
person who deposited the money might take
a legal action to frustrate the repatriation of
the funds.
“Often times, what happens is that the people
who claim to have ownership will come up
with a challenge. For instance, the one in
Jersey is about £300m. Everything had been
done to repatriate the money; it was no longer
contested and then at the last minute, it was
contested by the people who were supposed
to forfeit the funds.
“So of course, the authorities in Jersey had to
oblige. As much as they would have liked to
just go ahead to repatriate it, they had to go
through some legal procedures because that
party will have their lawyers and then we will
have to start going through legal issues all
over again. So, that is the challenge,” the
minister said.
The minister however could not state how
much the Buhari administration had
recovered since it took over power adding
that sometimes, the country holding the
stolen funds might make certain demands
which required intense negotiation.
Commenting on the Panama Papers Scandal
the minister said many countries across the
world were not doing anything about it.
He cited an example of the UK, the Prime
Minister, David Cameron, whose father was
accused of operating offshore accounts, had
refused to address the allegation.
Meanwhile, ahead of Nigeria’s democracy
day on May 29, President Muhammadu
Buhari will reveal names of persons who
have voluntarily returned looted public funds.
looters are blocking it from recovering
Abacha’s loot
– minister of foreign affairs, Mr Geoffrey
Onyeama said the person who deposited the
money might take a legal action to frustrate
the repatriation of the fund
– The minister however could not state how
much the Buhari administration had
recovered since it took over power
Federal government has revealed that it has
suffered a setback in repatriating £300m
stolen funds from the State of Jersey.
The minister of foreign affairs, Mr Geoffrey
Onyeama who made this known during a
press conference in Abuja said in 2014 that
Jersey had repatriated, in two tranches
£140m of the loot belonging to the late
Head of State, Gen. Sani Abacha, which was
laundered on his behalf by Mr Raj Bhojwani,
an Indian businessman.
He said one of the challenges with
repatriating stolen funds was that even after
Nigeria and the country hosting the stolen
money had reached an agreement, the
person who deposited the money might take
a legal action to frustrate the repatriation of
the funds.
“Often times, what happens is that the people
who claim to have ownership will come up
with a challenge. For instance, the one in
Jersey is about £300m. Everything had been
done to repatriate the money; it was no longer
contested and then at the last minute, it was
contested by the people who were supposed
to forfeit the funds.
“So of course, the authorities in Jersey had to
oblige. As much as they would have liked to
just go ahead to repatriate it, they had to go
through some legal procedures because that
party will have their lawyers and then we will
have to start going through legal issues all
over again. So, that is the challenge,” the
minister said.
The minister however could not state how
much the Buhari administration had
recovered since it took over power adding
that sometimes, the country holding the
stolen funds might make certain demands
which required intense negotiation.
Commenting on the Panama Papers Scandal
the minister said many countries across the
world were not doing anything about it.
He cited an example of the UK, the Prime
Minister, David Cameron, whose father was
accused of operating offshore accounts, had
refused to address the allegation.
Meanwhile, ahead of Nigeria’s democracy
day on May 29, President Muhammadu
Buhari will reveal names of persons who
have voluntarily returned looted public funds.
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