Oladipo Okpeseyi and Temitope Adebayo, two Nigerian lawyers hired for the return of $321 million Abacha loot from Switzerland, have been secretly paid their controversial fees, TheCable can report.Although they were initially to be paid $17 million, it was cut by $2 million and paid following pressure from a very popular Lagos-based pastor who is a political associate of President [...]
Tag "abacha loot"

Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), says the Swiss government has returned about $1 billion Abacha Loot to Nigeria since 1999.Magu made the disclosure on Thursday while speaking at the International Association of Anti-Corruption Authorities (IAACA) in Vienna, Austria.Tony Orilade, EFCC’s acting head of media and publicity, quoted Magu as saying the anti-graft commission [...]

The Economic and Financial Crimes Commission (EFCC) has accused HSBC Bank of laundering proceeds of corruption for over 50 Nigerians, including a serving senator.A recent report attributed to the bank predicted that if President Muhammadu Buhari wins his second term bid, it would “stunt the economy”.Garba Shehu, senior special assistant to the president on media and publicity, had on Saturday [...]

The National Social Investment Office says the recently launched TraderMoni micro-credit loan scheme will not be funded with the recovered Abacha Loot.According to the NSIO, a false message has been circulating on social media suggesting that the repatriated funds will be used to finance the loan scheme.A statement was released to this effect on Tuesday by Maryam Uwais, special adviser [...]

Shehu Sani, senator representing Kaduna central, has disagreed with the federal government's proposed disbursement of the $320 million recovered Abacha loot.President Muhammadu Buhari had said the money will be put into the conditional cash transfer (CCT) scheme targeted at the “poorest of Nigerians”.On Friday, the federal government said it will commence disbursement of the recovered loot to 302,000 poor households [...]

The federal government says it will commence disbursement of the recovered $320 million Abacha loot to 302,000 poor households in 19 states in July.In May, President Muhammadu Buhari had said the recovered loot will be put into the conditional cash transfers (CCT) scheme targeted at the “poorest of Nigerians".Tukur Rumar, representative of the National Cash Transfer Office (NCTO), on Thursday [...]

The federal government has announced plans to start a voluntary scheme to recover funds stolen from Nigeria. Abubakar Malami, minister of justice and attorney general of the federation, made the disclosure to NAN on the sideline of a meeting held at the Nigerian embassy in Bern, Switzerland. This comes ahead of the expiration of the Voluntary Assets and Income Declaration Scheme (VAIDS), which was extended to June [...]