UK Recovers $23m Abacha Loot After 7 Years Of Litigation

UK Recovers $23m Abacha Loot After 7 Years Of Litigation

The National Crime Agency (NCA) of the United Kingdom (UK) has issued a statement claiming it has recovered $23,439,724 taken out of Nigeria illegally by associates and family of the late former military ruler, Sani Abacha.

NCA, in the statement via its website on Thursday, said the funds form part of the huge monies identified by the United States Department of Justice (USDOJ) as having been misappropriated by Abacha and his associates.

The UK anti-graft agency said that the funds were recovered after nearly seven years of litigation and international negotiation to obtain a recovery order after a request for recovery by USDOJ.

It added that the funds have now been transferred to the home office for onward transmission to the USDOJ.

Speaking on the development, asset denial senior manager at NCA, Billy Beattie, said the UK is not a safe place for criminals to launder their proceeds of crime.

Beattie said, “The NCA is committed to ensuring that the UK is not a safe haven for criminals to launder their proceeds of crime, and civil recovery of assets is a powerful weapon in this fight.”

The Nigerian government has in the last 20 years since the death of Abacha in 1998, been repatriating huge amount of money stashed in foreign banks by the late dictator and his associates.