In its latest press briefing, the Africa Network for Environment and Economic Justice (ANEEJ) has revealed that the $322.5 million Abacha’s loot which the Federal Government recovered from Switzerland generated an interest of $13.4 million by 2022.
The Swiss government returned the stolen fund of the late Nigeria’s military dictator, General Sani Abacha to the FG in December 2017.
Meanwhile, the FG set aside the recovered loot to empower vulnerable Nigerians through poverty alleviation schemes under the National Social Investment Programme (NSIP).
According to the report which was made available to The Explainer on Tuesday, November 28, NSIP disbursed a total of $335,918,457 of the recovered loot to over 23 million vulnerable Nigerians from 2018 to 2022.
It said; “by the end of the disbursement, 268,568 beneficiaries have been paid across 19 States in 2018, 835,634 beneficiaries were paid across 32 States in 2019, and 1,129,273 beneficiaries were paid in 34 States in 2020.
“In addition, 1,938,825 beneficiaries were paid across 34 States in 2021 and 1,940,004 beneficiaries were paid across 33 States in 2022”.
Network on Asset Recovery; the journey so far
Following the repatriation of the Abacha’s loot in 2017, the report said the Federal Ministry of Justice developed a term of reference for civil society organizations on monitoring the $322.5million recovered loot. The Ministry recognised ANEEJ as one of the CSOs representing the Network on Asset Recovery (NAR) in collaboration with the FG.
In 2018, ANEEJ commenced the monitoring exercise under the Monitoring of Recovered Assets in Nigeria through Transparency and Accountability (MANTRA) project with support from Foreign, Commonwealth and Development Office (FCDO).
According to The MANTRA project was designed to address corruption issues within the broader objectives of the Anti-Corruption in Nigeria (ACORN) programme of FCDO of the British Government.
The FCDO supported the project from April 2018 to December 2021. The Switzerland Embassy in Nigeria continued the support shortly after, up till June 2023 when the monitoring exercise was concluded.
The FCDO supported the project from April 2018 to December 2021. The Switzerland Embassy in Nigeria continued the support shortly after, up till June 2023 when the monitoring exercise was concluded.
ANEEJ said it “engaged over 1,458 field monitors and has issued other reports to the public on its monitoring work and conducted spot checks at different times to follow up with the payment process, beneficiaries’ complaints and other issues”.
Through independent investigations and reports, ANEEJ said it exposed fraudulent practices that caused the removal of corrupt public officials in Gombe, Osun, Anambra, Edo and other states.
More Abacha’s loots, others recovered
Since recovering the Abacha’s loot in December 2017, several other illicit funds stashed away in foreign countries have been recovered by the FG. ANEEJ said the sum of $311.79 Million was returned to Nigeria in May 2020.
“In August 2020, MoU was signed between the Irish and Nigerian governments for the return of €5.5 million Abacha (4) stashed in the Island since the death of General Sani Abacha. In the same vein, the US and Nigerian governments in August 2022, signed an agreement to repatriate $23 million Abacha (5) loot to Nigeria. In November 2023, the French government announced that it is set to return $150million loot (Abacha 6) to Nigeria”
Furthermore, ANEEJ said it “influenced the successful return of $954,807.40 Diepreye Alamieyeseigha loot to finance the health sector infrastructure in Bayelsa State where ruled as governor.
Meanwhile, the FG has said 130 million Nigerians are living in poverty. In its 2022 Multidimensional Poverty Survey, the National Bureau of Statistics said the figure represents 63 per cent of the nation’s population. It added that the poverty index is mostly experienced in rural areas especially in the north with women and children most affected.
