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$2.4b looted funds in Nigeria traced to Abacha

Former Attorney-General of the Federation and Minister of Justice, Mr. Mohammed Bello Adoke has revealed in his book titled “Burden of Service”, that Gen Abacha, who ruled Nigeria from 1993 to 1998, made away with not less than $2.4b. Abacha reportedly laundered the money through slush accounts with the aid of his children and his brother. The looted money was stashed in accounts accross various foreign Europe countries which includes: Luxembourg, Liechtenstein, the UK, Channel Island of Jersey, France and Switzerland, as discovered by Swiss lawyer, Mr. Enrico Monfrini.

According to Adoke, former Senator Atiku Bagudu who is the current Governor of Kebbi State also aided Abache in carrying out the infamous loot to the detriment of Nigerians.

Excerpts from the book read: “In 2000, under the democratically elected administration of President Olusegun Obasanjo, the Federal Government engaged the services of Mr. Enrico Monfrini, a Swiss lawyer, to trace the looted funds worldwide, recover them and facilitate repatriation to Nigeria. In all, Enrico was able to trace about $2.4 billion to various accounts in Luxembourg, Liechtenstein, the UK, Channel Island of Jersey, France and Switzerland.” More than half of the identified loot was returned to Nigeria, with Switzerland alone repatriating $500 million in 2005.