Abacha Loot: UK Recovers $23 Million Stolen by Late Nigerian Dictator

• Britain’s National Crime Agency (NCA) has recovered about $23 million stolen from Nigeria by the Late Military Head of State Sani Abacha.

• The “Abacha loot” was stolen by the military head when he ruled Nigeria between 1993 and 1998.

• It is reported that the Nigerian leader stole about $5 billion during his reign.

Britain’s National Crime Agency (NCA) made a report on Thursday announcing the recovery of about $23 million stolen from Nigeria by the Late Military Head of State Sani Abacha. The recovery has been categorized as one of the biggest loot retrieval in recent times.

Gen Sani Abacha ruled Nigeria as the Head of State from 1993 until he died in 1998. During his reign, he stole an estimated $5 billion from the public purse.

According to the report from Transparency International, late Abacha was never charged for theft.

NCA stated that the money that was recovered in Britain is part of the multiple funds that were identified by the U.S. Department of Justice (DOJ) as being misappropriated by Abacha and his associates.

Billy Beattie, the NCA Asset Denial Senior Manager stated that the NCA is trying its best to ensure that the U.K isn’t a hiding place for criminals to launder their criminal acts, and the civil recovery of assets will help fight this battle. 

The Police reported that more than 100 billion pounds ($123 billion) of illegal money moves into or through Britain every year. These looted funds are often used to purchase luxurious items across the country.

Multiple collections of leaked financial documents like the  Panama, Pandora, and Paradise Papers have revealed London as the money-laundering hub in the world.

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It was stated that this $23 million Abacha loot was recovered after seven years of litigation and international negotiations carried out by the NCA based on the DOJ’s request. The recovered funds will reportedly be transferred to the DOJ.

Meanwhile, Reuters reports that an NCA spokesperson failed to reply when asked if the funds will be returned to Nigeria.. In the past, countries such as the U.S and Switzerland have repatriated “Abacha loot” funds in their possession.

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