FG to receive $227m Abacha’s loot tomorrow
THE Federal Government will receive $227 million (about N37 billion)
from the government of the Principality of Liechtenstein tomorrow, being
part of looted funds recovered from the Abacha family.
This was contained in a statement signed by the Special Adviser to the Minister of Finance, Mr Paul Nwabuikwu, in Abuja.
According to the statement,
President Goodluck Jonathan would constitute an inter-ministerial
committee to ensure the proper utilisation of the funds.
“The
president has also directed that part of the funds be saved in the
Future Generations Fund, one of the funds managed by the Nigerian
Sovereign Investment Authority (NSIA) to help secure the economic future
of both Nigerian youths and unborn Nigerians,” the statement added.
It stated further that the World Bank would assist in monitoring the utilisation of the funds on specific projects.
The statement said the return of the funds was delayed by a suit
instituted at the European Court of Human Rights (ECHR) by companies
owned by the Abachas, adding that the family had agreed to discontinue
the suit, as part of the negotiations to expedite the recovery of the
funds.
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6/24/2014
FG to receive $227m Abacha’s loot tomorrow
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