There is a balance of $26m and £19 million in the Abacha loot accounts, the Federal Government said yesterday.
The announcement was made at the end of the National Economic Council (NEC) meeting at the Presidential Villa in Abuja. It was presided over by its Chairman, Vice President Yemi Osinbajo.
The Abacha loot is the name given to the cash stolen by former military Head of State Gen. Sani Abacha (1993-1998), stashed away in foreign banks which was recovered by the government. Nobody has been able to state exactly how much the former Head of State stole.
The late Gen Abacha is believed to have stolen so much that even the World Bank declared it “too huge to handle”.
The issue of the cash returned to the front burner when former Minister of Finance and Coordinating Minister of the Economy Ngozi Okonjo-Iweala, admitted that she gave $300m and £5 million from the loot’s accounts to former National Security Adviser (NSA) Col. Smbo Dasuki for arms purchase. She said $700million was being expected.
The money is believed by the Economic and Financial Crimes Commission (EFCC) as part of the cash shared to politicians by the Office of the NSA, for which Dasuki and others, including former Sokoto State Governor Attahiru Bafarawa, are standing trial.
Accountant-General of the Federation Alhaji Ahmed Idris gave the figure in the accounts —as of last month — yesterday. Read full on theNation