Abacha’s stolen $300 million awaits recovery by Nigeria | Nigeria News Today. Your online Nigerian Newspaper f

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The coast is now clear for Nigeria to recover an estimated $300million stashed in bank accounts in the small island by the late military ruler, General Sani Abacha.


The Jersey Evening Post reported yesterday that the funds “will remain frozen in Jersey pending the registration of a civil asset recovery order in the Royal Court.”

It said the money will be released to Nigeria once it is ‘freed’,according to a ruling by the Privy Council.

Jersey is unlikely to receive a share,it said.

The stolen money was funnelled to Jersey from after being laundered through the USA.

Read Also: EFCC launches probe as $500m Abacha loot goes missing
It was placed in accounts held locally by a British Virgin Islands company, Doraville Properties Corporation.

In 2014 the assets were frozen by the Royal Court following an application by the US authorities. Since then, Doraville has lodged several legal challenges to lift the property restraining order.

Both the Royal Court and later Jersey’s Court of Appeal dismissed the company’s applications. And Doraville recently failed in its last available legal challenge, after the Privy Council rejected the company’s latest application.

The newspaper quoted Jersey’s Attorney General Robert MacRae as saying : “In restraining the funds at the request of the United States of America, through whose banking system the funds were laundered prior to arriving here, Jersey has once again demonstrated its commitment to tackling international financial crime and money laundering.”

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  1. Love, Marriage and Karma {MUST READ}

    I stand to be corrected about the write up but it’s kind of my opinion about marriage.

    To the ladies, if a guy proposes to you… you say yes and then he takes you home to meet his mom, if she likes you and accepts you, Congrats. If she doesn’t like or accept you, the only thing you can do is to tell your boyfriend/fiancé to find out why and what is the reason for his mother’s decision. You do not have any right whatsoever to tell him to fight for love and quarrel with his mom or go ahead and marry you behind his mom’s back or force his mom to accept you .

    You feel you love him and will marry him whether any Jupiter of a mother-in-law likes it or not and ehn whether she likes it or not you will marry him even if means not inviting or involving your mother-in-law to be.

    Why not take 10mins to fast forward into the future of the marriage…your mother-in-law never happy to visit her son, you always making excuses and not taking your children to see their grand mum, then 30 years later your child is about getting married and tells you to your face, that you are not invited to the wedding… How Would You Feel?

    Imagine the feeling you get, informing all your friends about your child getting married… the dignity, pride and attention you get while walking into... READ MORE

    ReplyDelete

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