Looters blocking me from recovering Abacha’s loot- Buhari

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– The President Buhari led FG have said looters are blocking it from recovering Abacha’s loot

– minister of foreign affairs, Mr Geoffrey Onyeama said the person who deposited the money might take a legal action to frustrate the repatriation of the fund

– The minister however could not state how much the Buhari administration had recovered since it took over power

According to Sahara Reporters, President Buhari has cancelled his trip to Lagos due to an ear infection he recently contracted.

Can President Buhari recover stolen loots?

Federal government has revealed that it has suffered a setback in repatriating £300m stolen funds from the State of Jersey.

The minister of foreign affairs, Mr Geoffrey Onyeama who made this known during a press conference in Abuja said in 2014 that Jersey had repatriated, in two tranches £140m of the loot belonging to the late Head of State, Gen. Sani Abacha, which was laundered on his behalf by Mr Raj Bhojwani, an Indian businessman.

He said one of the challenges with repatriating stolen funds was that even after Nigeria and the country hosting the stolen money had reached an agreement, the person who deposited the money might take a legal action to frustrate the repatriation of the funds.

READ ALSO: Controversy! See 3rd most corrupt Nigerian accusing Jonathan (photo) – Nigerians react

“Often times, what happens is that the people who claim to have ownership will come up with a challenge. For instance, the one in Jersey is about £300m. Everything had been done to repatriate the money; it was no longer contested and then at the last minute, it was contested by the people who were supposed to forfeit the funds.

“So of course, the authorities in Jersey had to oblige. As much as they would have liked to just go ahead to repatriate it, they had to go through some legal procedures because that party will have their lawyers and then we will have to start going through legal issues all over again. So, that is the challenge,” the minister said.

The minister however could not state how much the Buhari administration had recovered since it took over power adding that sometimes, the country holding the stolen funds might make certain demands which required intense negotiation.

READ ALSO: President Buhari set to reveal details of recovered loot from corrupt officials

Commenting on the Panama Papers Scandal the minister said many countries across the world were not doing anything about it.

He cited an example of the UK, the Prime Minister, David Cameron, whose father was accused of operating offshore accounts, had refused to address the allegation.

Meanwhile, ahead of Nigeria’s democracy day on May 29, President Muhammadu Buhari will reveal names of persons who have voluntarily returned looted public funds.

The post Looters blocking me from recovering Abacha’s loot- Buhari appeared first on Nigeria News today & Breaking news | Nigerian newspapers | Read on NAIJ.COM.

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