Attorney General Bello Adoke says the recovery of $550m from the Abachas will benefit Nigerians
The Federal Government said on Wednesday that it is in support of the forfeiture proceedings initiated by the United States Department of Justice against the property related to the corrupt conduct of late Head of State, Sani Abacha, and his associates and the subsequent laundering of corruption proceeds.
The proceedings would 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 Britain, British Virgin Islands and the United States.
The government stated this in a statement by the Attorney General of the Federation and Minister of Justice, Mohammed Adoke, on Wednesday in Abuja.
Mr. Adoke listed the accounts and investment firms/ banks where the looted funds were stashed abroad 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;.
-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; and
-Blue Holding (2) Pte. Ltd/Ridley Group Limited – £56,962,996.26
The US Justice Department had on March 6 announced the freezing of $485 Abacha loot, a few days after the late head of state was honoured alongside 99 other Nigerians by President Goodlcuk Jonathan as part of the Centenary celebration.
Mr. Abacha ruled Nigeria between November 1993 and June 1998 when he died in office.
According to the civil forfeiture complaint in the US District Court in Washington, the Justice Department said it wanted to recover more than &550 million in connection with the action.
“This is the highest forfeiture action to recover the proceeds of foreign official corruption ever brought by the department,” Mythili Raman, the Assistant Attorney General, had said.
“General Abacha was one of the most notorious kleptocrats in memory, who embezzled billions from the people of Nigeria, while millions lived in poverty.”
In the statement, Mr. Adoke said his office had received request for mutual legal assistance for the US.
“We applaud the efforts of the United States to recover the proceeds of corruption for the benefit of the people of Nigeria,” the minister said.
“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.”
Mr. Adoke assured that Nigeria, as state party to UNCAC, would do what was required to realize this objective.
Source:Premium Times
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