New Abacha's Loot Discovered, N28.3 billion

THE renewed stolen asset recovery drive of the Federal Government has yielded remarkable results as Government Thursday in Abuja said it had recovered another N28.3 billion( $175m) from the Abacha family and companies associated with him in Liechtenstein.

This was disclosed Thursday by the Attorney General of the Federation (AGF) and Minister of Justice, Mr. Mohammed Bello Adoke (SAN) at Abuja during the 2013 ministerial press briefing to mark the mid-term report card of the President Goodluck Jonathan’s administration.

Adoke also disclosed that the sum of £122.5 million was recovered from one Raj Arjandes, an Indian and close associate of the late Head of State, General Sani Abacha.

He said the $175 million recovered by government from the Abacha family and associated companies was the aftermath of a confiscation order by the Supreme Court of Liechtenstein.

But the companies said to have facilitated Abacha’s money laundering activities have filed an appeal against the confiscation order, which is already being executed and has yielded the said recovered sums so far.

The appeal for reversal of the confiscation order was said to have been filed at the European Court of Strasbourg.