JUST IN: Nigeria Drag UK To Court Over Abacha Loot - DAILY GIST
  • Home
  • ARTICLES
  • NEWS
  • BUSINESS
  • EDUCATION
  • ENTERTAINMENT
  • HEALTH
  • POLITICS
  • TECHNOLOGY
  • CRIME
  • METRO
  • SPORTS
  • NEWS EXTRA
  • JOBS & SCHOLARSHIPS
  • TRENDING VIDEO
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
  • ADVERTISE WITH US
DAILY GIST
  • Home
  • ARTICLES
  • NEWS
  • BUSINESS
  • EDUCATION
  • ENTERTAINMENT
  • HEALTH
  • POLITICS
  • TECHNOLOGY
  • CRIME
  • METRO
  • SPORTS
  • NEWS EXTRA
  • JOBS & SCHOLARSHIPS
  • TRENDING VIDEO
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
  • ADVERTISE WITH US
No Result
View All Result
  • Home
  • ARTICLES
  • NEWS
  • BUSINESS
  • EDUCATION
  • ENTERTAINMENT
  • HEALTH
  • POLITICS
  • TECHNOLOGY
  • CRIME
  • METRO
  • SPORTS
  • NEWS EXTRA
  • JOBS & SCHOLARSHIPS
  • TRENDING VIDEO
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
  • ADVERTISE WITH US
No Result
View All Result
DAILY GIST
No Result
View All Result

JUST IN: Nigeria Drag UK To Court Over Abacha Loot

Adam PR by Adam PR
February 9, 2022
in NEWS
0
JUST IN: Nigeria Drag UK To Court Over Abacha Loot
20.6k
SHARES
20.6k
VIEWS
Share on WhatsAppShare on TwitterShare on Facebook

The Nigerian government has dragged UK’s National Crime Agency (NCA) to court over €180 million (£150 million) funds that was looted abroad by late former Head of State Gen. Sani Abacha.

According to United Kingdom’s Telegraph, the case was raising questions about dirty money being circulated in the city of London.

By yesterday’s official exchange rate of the British Pounds Sterling at N563, as seen on the website of the Central Bank of Nigeria (CBN), the money in contention is about N84.5 billion.

Recall the in May 2020, the federal government confirmed that they had received $311 million looted funds.

In the latest legal tussle over the money, generally known in Nigeria as “Abacha loot”, the report stated that Nigeria wanted the crime-fighting agency, NCA, to release funds that it froze at the request of US authorities.

In May 2020, the federal government confirmed the receipt of $311 million looted by a late dictator, Abacha, repatriated from the United States and Island of Jersey.

ALSOREAD

FG Imposes Tax On Hookup Girls, Yahoo Boys Under New Law

FULL LIST: Oyo Emerges Nigeria’s Best State To Live In 2025

Tax ID Now Compulsory For Nigerians: What You Should Know

Elon Musk Makes Declaration Amid FG’s Threat Over Sowore’s Anti-Tinubu Tweet

US Announces Visa Application Ban That Affect Nigeria

It came after the recovery of $322 million from Switzerland in 2018.

At the time, Malami noted that the government had committed that the asset would support and assist in expediting the construction of three major infrastructure projects across Nigeria, namely, Lagos – Ibadan Expressway, Abuja – Kano Road, and Second Niger Bridge.

It was estimated that from 2007 to 2020, about $1.5 billion had been returned to Nigeria from different parts of the world.

Attorney General of the Federation and Minister of Justice, Abubakar Malami, stated that the funds would be dedicated to three major infrastructure projects across Nigeria, namely, Lagos – Ibadan Expressway, Abuja – Kano Road, and Second Niger Bridge.

The amount increased significantly from over $308 million to over $311 million because of the interest that accrued from February 3, 2020, to 28th April, 2020, when the fund was transferred to the CBN.”

A total of $1.5 billion looted funds was returned from different part of the world to Nigeria from 2007 to 2020″

The tussle began when the United States decided to return the funds in a scheme called the Kleptocracy Initiative. But this did not sit well with the Federal Government and they decided to side step the process and obtain the funds directly through an application to the High Court, in a move opposed by UK and US authorities.

The report by the publication states in part: “It is a complicated story with many twists and turns. But the on-going struggle for ‘Abacha’s loot’ reveals the difficulty in recovering stolen funds, the frustrations of law enforcement, and the way people accused of corruption have relied on respectable law firms to argue their cases in coupart”

Uk hired Kingsley Napley, a London law firm to represent them. The firm and the NCA have refused to comment on the ongoing case.

However, Jonathan Benton, a former NCA senior detective said the case shows the difficulty in reclaiming Abacha’s loots

He said: “I care passionately about tackling corruption and it is important we hold people to account.

“But it can be a challenging and drawn-out process and sometimes you have to be pragmatic. In those situations, the law allows you to negotiate. It is repugnant. But Nigeria desperately needs the money that abacha stole.”

FOLLOW US ON SOCIAL MEDIA

TWITTER — https://x.com/dailygistonline

THREADS —https://www.threads.net/@dailygistonline

FACEBOOK — https://m.facebook.com/oauvoices

INSTAGRAM —https://www.instagram.com/dailygistonline/ 

 

FOR ADVERTS, PUBLICATION AND PROMOTIONS, CONTACT DAILY GIST ON WHATSAPP – 09061956151

Share This News

Tags: Abacha LootFGNigeriaUK
Previous Post

BREAKING: UI Ranks Among Best Universities In Africa(Full List)

Next Post

BREAKING: Ex-JAMB Registrar, Dibu Ojerinde’s Plea Bargain On Alleged Fraud Collapses

Adam PR

Adam PR

AdamPR is a young Blogger, Publisher, Web Designer. For Adverts and Publications, He can be reached on WhatsApp - 09061956151

Related Posts

Nigerian Man Asks Wife To Video Him Working, Dies On Camera In Ogun
NEWS

Nigerian Man Asks Wife To Video Him Working, Dies On Camera

October 10, 2025
How Moaning During Bedroom Sex Can Land You In Trouble — Nigerian Lawyer
NEWS

How Moaning During Bedroom Sex Can Land You In Trouble — Nigerian Lawyer

October 10, 2025
Nigerian Man Kills His Girlfriend For Money Rituals In Lagos
NEWS

Assistant Headmaster Suspended After He Was Seen F0ndling Student’s Br£asts In Viral Video

October 8, 2025
Bola Tinubu, Petrol Subsidy, Forex
NEWS

BREAKING: President Tinubu’s Minister Resigns

October 7, 2025
Lagos Appoints Mandy Kiss After Failed Mission To Sleep With 100 Men In 24hrs
NEWS

Lagos Appoints Mandy Kiss After Failed Mission To Sleep With 100 Men In 24hrs

October 1, 2025
FG Imposes Tax On Hookup Girls, Yahoo Boys Under New Law
NEWS

FG Imposes Tax On Hookup Girls, Yahoo Boys Under New Law

September 30, 2025
Next Post
BREAKING: Ex-JAMB Registrar, Dibu Ojerinde Seeks Plea Bargain With ICPC Over Alleged Fraud

BREAKING: Ex-JAMB Registrar, Dibu Ojerinde's Plea Bargain On Alleged Fraud Collapses

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

TRENDING NEWS

  • VIDEO: Man Flees For His Life After Been Caught Sleeping With Another's Man Wife

    VIDEO: Man On The Run After Been Caught Sleeping With Another’s Man Wife

    25404 shares
    Share 10162 Tweet 6351
  • VIDEO: Lady’s Br£asts Fall From Her Top While Dancing With Chris Brown At Concert

    21920 shares
    Share 8768 Tweet 5480
  • VIDEO: Female Prison Officer Caught Having S£x With Inmate Inside Cell

    26497 shares
    Share 10599 Tweet 6624
  • VIDEO: Lady Disgraced In Lekki After Being Caught Hiding Dollar Bills In Her Private Part

    23019 shares
    Share 9208 Tweet 5755
  • Man Caught His Wife Having S£x With Thier Pastor On Matrimonial Bed

    22949 shares
    Share 9180 Tweet 5737
  • Assistant Headmaster Suspended After He Was Seen F0ndling Student’s Br£asts In Viral Video

    21436 shares
    Share 8574 Tweet 5359
  • I Invited My Friend To Record – Sudent In Viral Sex Tape With Her Teacher Speaks

    21417 shares
    Share 8567 Tweet 5354
  • VIDEO: Nigerian Lecturer Caught S3xu@lly Harassing Female Student In A Disturbing Clip

    22453 shares
    Share 8981 Tweet 5613
  • Police Officers Caught On Camera Having Sex In Their Patrol Car In Broad Daylight

    24868 shares
    Share 9947 Tweet 6217
  • VIDEO: Portable Causes Chaos At Port Harcourt International Airport

    21069 shares
    Share 8428 Tweet 5267

DAILY GIST reports Latest News in Nigeria and aims to keep Nigerians updated and informed with Reports and Informations in the aspect of Education, Politics, Health, Business, Technology, Jobs, Entertainment. etc

  • Home
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
  • ADVERTISE WITH US
  • DESIGNED BY ADAMPR
  • Privacy Policy

DAILY GIST © 2020 | All Rights Reserved

No Result
View All Result
  • Home
  • ARTICLES
  • NEWS
  • BUSINESS
  • EDUCATION
  • ENTERTAINMENT
  • HEALTH
  • POLITICS
  • TECHNOLOGY
  • CRIME
  • METRO
  • SPORTS
  • NEWS EXTRA
  • JOBS & SCHOLARSHIPS
  • TRENDING VIDEO
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
  • ADVERTISE WITH US

DAILY GIST © 2020 | All Rights Reserved