FG Reveals What It Has Done With $103.64m Recovered Abacha Loot

Presidency Speaks On Recovered Abacha Loot

Mrs Maryam Uwais, special adviser to President Buhari on social investments has highlighted how the recovered Abacha loot is been used to take care of poor and vulnerable Nigerians.

Specifically, the presidential aide disclosed that the fund is been shared to beneficiaries of the National Cash Transfer Programme, a component of the National Social Investment Programme.

Speaking on Monday while delivering an address on training on illicit funds, Mrs Uwais noted that the singular action by the federal government has positively changed the fortune of many Nigerians.

She revealed that from the August 2018 to the October payment cycle, the total amount disbursed from the Abacha loot was $76,538,530 and $27,099,028 from the International Development Association (IDA) credit.

According to her, beneficiaries of the fund were obtained from a National Social Register, collated by the National Social Safety Net Coordinating Office.

She added that the action is in line with agreements reached by the Swiss government, the World Bank and the Federal Government on the judicious use of the fund, noting that this will ensure that the funds were well utilised and not diverted or embezzled as has been the case in past times.

“In December 2014, a Swiss judge gave a forfeiture order to the effect that the money ($322.5m) recovered from the family of late General Abacha would be returned to Nigeria, one of the conditions being that the World Bank would be involved in monitoring disbursements there from.

“Presumably, this was as a consequence to the opaqueness that surrounded the application of recovered funds,” Uwais said.

She noted that under the Cash Transfer Programme funded with the Abacha loot and IDA loan facility, enrolment and payment has been made to 620,947 beneficiaries across 29 states of the federation.

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