By Adetutu Folasade-Koyi
Chairman of the Presidential Advisory Committee Against Corruption (PACAC), Prof. Itse Sagay said in Abuja, yesterday, that Nigeria risks losing another $550 million recovered from the family of late former Head of State, General Sani Abacha, to the United States of America.
Stringent conditions laid down for receiving countries and the uncooperative attitude of the US may hinder Nigeria from laying its hands on the money. Sagay disclosed this at a media conference on Asset Recovery, jointly organised by PACAC and the Office of the Senior Special Assistant to the President on Foreign Affairs and the Diaspora.
“Nigeria presently stands to lose another $550 million recovered from the Abacha family to the US, contrary to an earlier promise by the US to return same to Nigeria,” said Sagay.
The constitutional lawyer said the amount represented a separate tranche from the earlier $480 million forfeited to the US following a court judgment in August 2014.
He said the stringent conditions for repatriation being given by the countries in which some of the nation’s stolen wealth were stashed contradicted earlier promises made, and expressed concern at the country’s challenges in the tracing, seizure, forfeiture and return of Nigeria’s assets laundered outside the country.
According to Sagay, the challenges include stringent conditions and other uncooperative attitudes of the countries in possession of the stolen funds.
“Out of the Abacha loot, for instance, Switzerland seized over $505.5 million between 2004 and 2006.
“The United Kingdom recovered $2.7 million from (late former Bayelsa State governor) Diepreye Alamieyeseigha’s account in London, in 2005.
“Alamieyeseigha’s home and other real estates as at 2005 were estimated at over $15 million,’’ Sagay said.
Also speaking at the parley, Senior Special Assistant to the President on Foreign Affairs and Diaspora, Abike Dabiri-Erewa called for the unconditional return of Nigeria’s looted fund. Dabiri-Erewa, who said asset recovery was different from asset returning, decried the uncooperative attitude of the countries where the stolen funds were being stashed.
“America has over $400 million officially recovered as stolen funds from Nigeria.
“But, America is keeping the funds and talking about technicalities; they are saying ‘we recovered doesn’t mean we can return.’
“We want every Nigerian in the Diaspora and friends of Nigeria to join this committee in demanding that every Nigeria’s stolen fund, recovered in any part of the world, should be returned to Nigeria. The person who steals is a criminal; the person who keeps known stolen funds is also liable.
“You can’t give us aid of $1 billion and keep $1 billion of funds you have recovered from Nigeria. So, we will join the committee to embark on advocacy with Nigerians outside, to appeal to these nations to do everything possible to return what belongs to Nigeria,”she said.
In March 2016, the Swiss government said it had, so far, returned $723 million of stolen funds seized from the Abacha family to the Nigerian government over the last 10 years. The amount excludes $321million which the Swiss authorities said it planned to repatriate to Nigeria.
These details are contained in the agreement signed on March 8, 2016, in Abuja by representatives of the Swiss Federal Council and the Nigerian government. The agreement, titled “Letter of Intent on the restitution of illegally acquired assets forfeited in Switzerland,” was signed by Attorney-General and Minister of Justice, Abubakar Malami, and the Swiss Head of Foreign Affairs Department, Didier Burkhalter.
The document revealed that $321 million acquired illicitly by the Abacha family was, initially, deposited in Luxemburg before being confiscated by the Swiss Republic Judiciary and Canton of Geneva, following a December 11, 2014 forfeiture order.