Abacha loot: Nothing to show for $3bn returned to Nigeria – CACOL
The Centre for Anti-Corruption and Open Leadership has lamented the expenditure of tranches of Abacha loot previously returned to Nigeria.by the United States of America.
In a statement, CACOL Chairman, Debo Adeniran, said: “As at the last count, over USD3bn have been repatriated from various countries that include: Switzerland, UK, etc.. The organisation said Nigeria continues to run a mono-cultural economy with the price of oil nose-diving, while an average Nigerian continues to live below the United Nations-suggested level of $2.
“The level of relooting of such repatriated funds became so worrisome and a cause for regrets that the U.S. government was reported to have insisted that Nigeria should be ready to ‘replace’ the over $300m it returned if the fund was misused,” it said.
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