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Nigeria gets back $227 million looted by dictator

 
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    Posted: Jun 20 2014 at 4:05am

Nigeria gets back $227 million looted by dictator

Associated Press 
By MICHELLE FAUL13 hours ago
In this photo taken on Wednesday, Sept 29, 2010, Mohammed Abacha at a political meeting in Kano, Nigeria. Liechtenstein is returning $227 million looted by Nigeria's late military dictator after the Nigerian government made a deal with his eldest son to drop corruption charges against the son, the government said Thursday.With the charges dropped, supporters of Mohammed Abacha, son of the late dictator Gen. Sani Abacha, said that paves the way for him to run for governor of northern Kano state on the ticket of the ruling People's Democratic Party of President Goodluck Jonathan. (AP Photo/Sani Maikatanga)
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In this photo taken on Wednesday, Sept 29, 2010, Mohammed Abacha at a political meeting in Kano, Nigeria. …

LAGOS, Nigeria (AP) — Liechtenstein is returning $227 million looted by Nigeria's late military dictator after the Nigerian government made a deal and dropped corruption charges against his eldest son, the government said Thursday.

But a leading advocacy group warned that any returned money likely will be stolen again and called the government move "a celebration of corruption."

With the charges dropped, supporters of Mohammed Abacha, son of the late dictator Gen. Sani Abacha, said that paves the way for him to run for governor of northern Kano state on the ticket of the ruling People's Democratic Party of President Goodluck Jonathan.

Neither Abacha nor party officials could immediately be reached for comment and Abacha's supporters insisted on anonymity because they were not authorized to speak to reporters.

Mohammed Abacha is wanted in the United States for his alleged part in laundering some $458 million in funds stolen by his father and frozen by the U.S. in February.

Human rights activists have accused Jonathan and his government of consistently rewarding instead of punishing those accused of corruption. Nigeria, Africa's most populous nation, is a country where graft colors every facet of life and keeps the majority in abject poverty.

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FILE - In this file photo taken on Saturday, March …
FILE - In this file photo taken on Saturday, March 21, 1998, late Nigeria President Gen. Sani Abacha …

A statement from Nigeria's Ministry of Finance on Thursday said it has taken the government 16 years to win the agreement to return the money banked in Liechtenstein, most recently held up by a lawsuit filed by Abacha family companies with the European Court of Human Rights.

The Abachas agreed to drop the suit in return for the government dropping charges against Mohammed Abacha, the statement said. It said spending of the money would be overseen by a government committee and the World Bank.

The World Bank also had oversight on the spending of $505 million in Abacha loot returned by Switzerland to Nigeria's previous administration, in which Jonathan was vice president. Swiss and Nigerian advocacy groups say $250 million of that money cannot be accounted for.

"Such funds should not be released directly to the government, especially in the light of the withdrawal of the suit against Abacha's son," Adetokunbo Mumuni of the Socio-Economic Rights and Accountability Project told The Associated Press.

He said his group will continue to press the U.S. attorney general to return any frozen funds to Nigerian charities or U.S. charities working in Nigeria to ensure it is not again looted.

Abacha seized power in a coup in 1993 and died in suspicious circumstances in 1998 while he was still in office. He is believed to have stolen up to $5 billion. Other reported seizures of his suspected loot include $630 million in Luxembourg and $450 million in Britain.


http://finance.yahoo.com/news/nigeria-gets-back-227-million-looted-dictator-183539152--finance.html

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afrokock View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote afrokock Quote  Post ReplyReply Direct Link To This Post Posted: Jun 20 2014 at 4:14am
I'm always conflicted bout these things but that's another thread
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Sang Froid Quote  Post ReplyReply Direct Link To This Post Posted: Jun 20 2014 at 5:07am
Nigeria Nigeria Nigeria...
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Post Options Post Options   Thanks (2) Thanks(2)   Quote afrokock Quote  Post ReplyReply Direct Link To This Post Posted: Jun 20 2014 at 5:29am
Originally posted by Sang Froid Sang Froid wrote:

Nigeria Nigeria Nigeria...
easy to say innit
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Sang Froid Quote  Post ReplyReply Direct Link To This Post Posted: Jun 20 2014 at 5:43am
Originally posted by afrokock afrokock wrote:

Originally posted by Sang Froid Sang Froid wrote:

Nigeria Nigeria Nigeria...
easy to say innit

It's a beautiful name.
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Post Options Post Options   Thanks (1) Thanks(1)   Quote iliveforbhm Quote  Post ReplyReply Direct Link To This Post Posted: Jun 20 2014 at 5:50am
That dude looks like Afro
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Post Options Post Options   Thanks (2) Thanks(2)   Quote f8dagrate Quote  Post ReplyReply Direct Link To This Post Posted: Jun 20 2014 at 7:06am
Originally posted by iliveforbhm iliveforbhm wrote:

That dude looks like Afro


Seems like you like getting his attention a little too much
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Post Options Post Options   Thanks (0) Thanks(0)   Quote femmemichelle Quote  Post ReplyReply Direct Link To This Post Posted: Jun 20 2014 at 7:12am
Nigeria...*sigh*
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Post Options Post Options   Thanks (0) Thanks(0)   Quote newin2009 Quote  Post ReplyReply Direct Link To This Post Posted: Jun 20 2014 at 8:30am
Sigh...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote iliveforbhm Quote  Post ReplyReply Direct Link To This Post Posted: Jun 20 2014 at 8:39am
Right, he shouldn't gave that money back to despots. Nigerian people should take over but the religious and tribal affiliations make them a weaker nation overall.
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