FINALLY US agrees to return $480m looted by Abacha family, others to Nigeria

United States has finally agreed to repatriate to Nigeria about $480million believed to have been stolen by the late Head of State, General Sani Abacha and his family members.
Already, the conditions for the repatriation of the cash and other details are being worked out. Also, it was learnt that the Department of Justice in the United States now has a Kleptocracy Unit, which assist to track looted funds and money laundered by public officials from Nigeria and other nations. According to The Nation, the planned repatriation is the outcome of the meeting between President Buhari’s Attorney-General of the Federation, Abubakar Malami (SAN), Chairman of the Economic and Financial Crimes Commission( EFCC), Mr. Ibrahim Magu the Department of Justice. “The US is likely to advise on specific areas to spend the funds on and the project monitoring mechanisms. It does not want the cash re-looted.” In the source’s view, there is no hiding place for Nigerian treasury looters in the United States anymore. “The Federal Government and the U.S. on January 14, 2003 signed the Treaty on Mutual Legal Assistance in Criminal Matters between the two nations. So, no corrupt public officers from Nigeria can hide in the US. “At the session with AGF and the EFCC boss, they told the Nigerian team that the DOJ now has Kleptocracy Unit which is closing tabs on Political Office Holders and other public officers in this country and many other nations.” Recall that the Criminal Division of the Office of International Affairs of the US Department of Justice, had in a letter to the Federal Government, identified the accounts where Abacha loot was hidden. The highlights are as follows: Doraville Properties Corporation – $287 million in Account Number 80020796 located at Deutsche Bank International Limited in the Bailiwick of Jersey; HSBC Fund Administration (Jersey) – $12 million in account number S-104460 in the Bailiwick of Jersey; and Rayville International, S. A – $1 million in account number 223405880IUSD at Banque SBA in Paris, France. Others are Standard Alliance Financial Services Limited – $144 million in account 223406510PUSD at Banque SBA in Paris; Mecosta Securities – $21.7 million in accounts 10030688 and 100138409 at Standard Bank in the United Kingdom; and HSBC Bank Plc – $1.6 million in account number 38175076. Also listed are Blue Holding (1) Pte Ltd/ Ridley Group Limited – £6,806,900; Blue Holding (2) Pte. Ltd/ Ridley Group Limited – £21,846,983; Blue Holding (1) Pte. Ltd/ Ridley Group Limited – £10,293,343.58; Blue Holding (2) Pte. Ltd/Ridley Group Limited – £56,962,996.26. It was learnt that the Abacha family had pledged to cooperate with the Federal Government.