Bagudu Set To Lose $150 million As United States Goes After Him

The United States has announced it’s intention to resume legal proceedings to seize over $150 million allegedly laundered by Kebbi State Governor Atiku Bagudu.

According to Bloomberg, Bagudu tried to make an out of court settlement with the US but failed.

The United States alleged that the governor was part of a gang controlled by Sani Abacha which misappropriated billions of dollars from state coffers in the 1990s.

A UK court had frozen the family investment in 2014 following a request from the United States.

The Nigerian government in 2019 said it was unable to assist the United States with the case as a previous agreement had been made with Bagudu in 2003.

Bagudu’s brother, Ibrahim, is however challenging the forfeiture of the funds in a federal court in Washington.

Ibrahim is of the belief that an out-of-court settlement is still possible with US and UK government officials.

US authorities and the Bagudu family obtained a stay of the judgement in 2020 to enable the parties to negotiate a resolution but with no agreement reached, the case is set to resume, according to court documents dated March 2.