President Goodluck Jonathan on Thursday constituted an inter-ministerial committee to manage the €167 million (about N36 billion) expected to be returned to Nigeria from the government of the Principality of Liechtenstein as part of the looted funds recovered from the Abacha family.
The Minister of Finance, Ngozi Okonjo-Iweala, confirmed on Thursday in Abuja that Nigeria would receive the recovered funds, latest by June 25.
She also explained that the federal government withdrew the N100 billion stolen funds charges against Mohammed Abacha, son of Sani Abacha, to ease the return of the N36 billion.
Sani Abacha was Nigeria’s military dictator from 1993 to 1998 and is believed to have looted billions of dollars of Nigeria’s funds while in power.
To ensure that the recovered money was put into the best use to the benefit of all Nigerians, Mrs. Okonjo-Iweala said the President had directed the committee to immediately identify the best projects and programmes to spend the funds on.
She said the World Bank would also be involved in the process towards effective utilisation of the recovered money.
“We can confirm that Nigeria will on June 25, 2014 receive the sum of Euro 167 million ($227 million), about N36.32 billion from the Government of the Principality of Liechtenstein, part of looted funds recovered from the Abacha family,” the Minister said through her Special Adviser on Media, Paul Nwabuikwu.
Mrs. Okonjo-Iweala said the President has also directed that part of the funds be saved for the future generation In line with the agreement reached with the Principality of Liechtenstein. She also said the World Bank will assist in monitoring the utilization of the funds on specific projects.
The Minister celebrated the return of the funds as a major achievement of the government from its over 16-year effort.
She said the President, working with her, the Attorney General of the Federation, Muhammad Adokie; and the National Security Adviser, Sambo Dasuki, made the recovery of the loot possible.
The return of the funds, she said, was however delayed by the suit instituted at the European Court of Human Rights, ECHR, by companies owned by the Abachas, alleging an infringement of their rights to a fair trial and to the peaceful enjoyment of their possessions.
To demonstrate government’s commitment to retrieving the funds, Mrs. Okonjo-Iweala said Mr. Adoke had, on behalf of the government, filed a suit against Mohammed Abacha before the Abuja High Court.
She said as part of the negotiations to expedite the recovery of the funds, the Abachas had agreed to discontinue their suit before the ECHR, while the Federal Government equally decided to withdraw the case against him.
Under the deal, the government’s lawyer, Daniel Enwelum, told the court that Mr. Adoke had asked him to withdraw the nine-count charge against Mohammed over alleged receipt of stolen property worth N100.38 billion.
The money to be recovered from Liechtenstein is different from the $458 million stolen Abacha loot that the U.S. froze and the federal government wants returned.
However, a cross section of the human rights community has described the decision to trade away about N100 billion for about N36.32 billion as another demonstration of government’s insensitivity and lack of commitment to fighting corruption in Nigeria.
The Lead Director, Centre for Social Justice, Eze Onyekpere, described the deal as the most absurd style of plea bargaining, which would encourage impunity, corruption and stealing of public funds by the country’s leaders.
“It does not make sense at all. How can one steal about N446 billion and government is accepting only N36.32 billion to discontinue the case against the culprit? What government is getting is not even up to one-tenth of what was stolen and a case is withdrawn against him.
“It is the easiest way to steal money from the system. It shows how unseriously government takes the fight against corruption.”
For a Lagos based lawyer, Kayode Adaramoye, although the Attorney General had the powers to discontinue with any case at any point, the government’s action on the Abacha loot is undesirable for Nigeria’s development.
“The action of the Federal Government is like patting corruption on the back and a proof that the administration is not sincere about the fight against corruption. It is rather sad that all these are happening in a country that has all the potentials to make its people amongst the best catered for in terms of socio-economic wellbeing,” he said.
The National President, National Youth Council of Nigeria, NYCN, Wale Ajani, described the Nigerian government’s action as very unfortunate and one that would show the international community that the present administration was not serious about the fight against corruption.
Mr. Ajani said that there was no justification for any government to allow anybody that had stolen from the nation’s wealth to go scot free, particularly when such despicable acts have continued to aggravate the socio-economic plights of ordinary Nigerians. Click to signup for FREE news updates, latest information and hottest gists everyday
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Streets, barracks, highways, etc are still named for Sani Abachi, a total and absolute thief whose son has continued the way of his father. Okonji Iweala, your excuse sounds like nonsense. Nigerians would be stupid to vote for Jonathan who has ruined our nation with the help of his most-trusted criminals. Nigerians must wake up, or forever sharrap! We allow these nonsenses to continue, because of our docile attitude. Ultimate ruin is all that awaits the country.
ReplyDeleteSo Okonjo-Iweala is involved in this bizarre deal? God save our country!
ReplyDeletea bird at hand is more than hundred on a hundred on the 3.
ReplyDeleteIweala or whatever u call urself, ur reasons ate inept and unfounded. Shame to i amd ur generation
ReplyDeleteGEJ and his achievements!!! I can't believe the utter rubbish coming Okonjo Iweala.
ReplyDeleteThere's something we're not being told here. I suspect foul play in this whole saga.
ReplyDeleteHere's what I think is being kept away from the public; The government is being economical with the truth on this matter. If a deal had been struck with the Abachas, they should tell us how much cause that's not the amount that was traded off by the Abachas, period.
God will help Nigeria and Nigerians.
Imagin da last speaker,...we gat to wake up frm our slumber.........dis is d worst administration av ever seen.....trading d youth future for dere immediate concerns.......okonjo iweala......should atleast follow d foot print of her deceased colleague........
ReplyDeleteNa so e be? Madam please if you can't say the truth please close your mouth. We know Mohammed has joined PDP and plans to run for governor of Kano. He can't run with a lawsuit hanging over him so dear Goodluck dropped the charges! With the way this man without shoes is misbehaving I just might vote for Buhari!
ReplyDeleteVote for Buhari but dont complaining when your limbs are amputated by Buhari government (God forbids) for typing nonsense on the Internet. You got what you wanted at least.
DeleteOh,oh,oh - this man fears amputation!!! Are you not not worse off now?
DeleteThe only person who should fear amputation is the one who intends to steal. So my dear countryman who is scared of amputation, what is your plan? Just saying.
DeleteThese so-called human rights people are very clueless, Abacha loot is being systematically recovered from the family since the Obasanjo administration. Obasanjo had to enter into a similar deal to discontinue prosecution of Mohammed Abacha in return for some of the funds. That was when their mother was reported to have made the 'infamous' statement that despite what Obasanjo retrieved from them, they can't be as poor as Aliko Dangote. That Jonathan administration got this sum in spite of the Obasanjo earlier deal is a good thing. Sometime in the future, this government or another one will continue the recovery. People should not just criticize for the sake of talking. No other government has come after its stolen funds as Nigeria. Imelda Marcos has recovered all her husband 'assets' earlier ceased by the US and Philippines government. And there are many more across the world like that.
ReplyDeleteAbatcha stole peanuts compared to what GEJ and his cohorts have stolen fromm NNPC. Time will tell.
ReplyDeleteMy only question to Iweala is - how does the dropping of charges against this thief ease the release of the other fund? You bunch of criminals and liars.
ReplyDeletemadam u r deceiving urself and ur children. it is unfortunate.
ReplyDeleteGEJ is inept period!
ReplyDeleteHow can govt say that some of the money will be save for future generation of Nigerians where there are bunch of problems to solve with the money? well, Nigerians will wait to see what govt will do this time with such amount of money.
ReplyDeleteAnd one more thing,we need good road, better transportation system, electricity, low cost of fuel. and govt please, don't forget to fix the refinaries and create job opportunities for jobless Nigerians.
ReplyDeleteThe fact that looted funds are being recovered is something to be happy about. Sometimes, these kinds of things require a lot of tact and diplomacy. We ought to be supportive of government's positive efforts rather than being unduly critical.
ReplyDeleteSteal all billions from Nigeria, just agree to join POP and agree to campaign for Jonathan next year's ambition. All the criminal charges will be drop. Eg: Femi Fani Kayode etc.
ReplyDeleteOkonjo Iweala is a stooge for the IMF, World Bank and the BIS. She is their puppet strategically placed so that Nigeria's economy never sees the light of day. She would make sure that Nigeria and Nigerians remain indebted to the world bank just like so many other nations are. SHE HAS TO GO. We have enough economics and finance graduates in Nigeria to effectively manage her position. Nigeria will never develop economically if we have people like her running the economic affairs of the country.
ReplyDeleteU guys don't see that the Europeans are not willing to release the money cos of Abacha family suit and US is not even talking about the one frozen by them. So the bargain is the best we can get now. Even if you convict Abacha US and the Europeans won't release the money so that's why this deal is somehow gd
ReplyDelete