NEWS & TRENDS

$500M Abacha loot goes missing

The Economic and Financial Crimes Commission (EFCC) is battling to answer where $500 million recovered from the late Gen. Sani Abacha’s family is. The cash was recovered from the family of the late Head of State during ex-President Goodluck Jonathan’s administration.

The foreign governments, which released the loot to the Federal Government after hard negotiations, demanded that the cash be used for concrete developments, including infrastructures, such as roads, water, healthcare, and education.

According to EFCC detectives tracking the $500million have discovered that it was diverted.

Of the $500million, about $250million was released to the Office of National Security Adviser (ONSA)during the tenure of Col. Sambo. A fact-sheet on the investigation, the $250million was withdrawn between March 2, 2015 and April 21, 2015.

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