US Kicks As Buhari Wants To Pay $100 million to Kebbi Governor Who Helped Abacha Loot Nigeria – Bloomberg Report

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by William Clowes, Bloomberg

The U.S. is opposing plans by Nigeria’s government to hand about $100 million the American authorities say was stolen by deceased former dictator Sani Abacha to a top ruling party official.

The disagreement may hamper future cooperation between the two nations to recover state money moved offshore by Abacha, who Transparency International estimates may have looted as much as $5 billion during his 1993-98 rule. A commitment by Nigeria to transfer the funds to Kebbi state Governor Abubakar Bagudu appears to undermine Nigerian President Muhammadu Buhari’s pledge to quell rampant graft in Africa’s top oil producer.

The U.S. Department of Justice says Bagudu was involved in corruption with Abacha. The DoJ also contends that the Nigerian government is hindering U.S. efforts to recover allegedly laundered money it says it’s traced to Bagudu. Buhari’s administration says a 17-year-old agreement entitles Bagudu to the funds and prevents Nigeria from assisting the U.S., according to recent filings from the District Court for the District of Columbia in Washington.

Read a related article about the return of looted funds to Nigeria

Bagudu and Buhari

“This case illustrates how complex and contentious repatriating stolen assets to Nigeria can be,” said Matthew Page, an associate fellow at London-based Chatham House and former Nigeria expert for U.S. intelligence agencies. “Instead of welcoming U.S. efforts, Nigeria’s lawyers appear to be supporting the interests of one of the country’s most powerful families.”

Read full https://www.bloomberg.com/amp/news/articles/2020-02-21/u-s-opposes-nigeria-plan-to-hand-looted-funds-to-state-governor?__twitter_impression=true

The views expressed in this article belong to the author and do not necessarily reflect the editorial policy of NewsRescue
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