Sunday, September 18, 2016

Abacha's $550m Loot Soon To Be Released To Nigerian Governent After Lawyer Loses Case

A United States District Court, yesterday, dismissed a case by a Nigerian lawyer seeking to stop the repatriation of over $550 million of stolen funds during the regime of late General Sani Abacha (referred to as the Abacha loot) to Nigeria until the payment of his legal fees worth $320 million by the Nigerian Government.

The thrashing of the case by Justice John D. Bates of the U.S District Court automatically clears the final legal hurdle for the return of the loot to Nigeria to help it retool its plummeting economy which has received heavy pummelling from falling oil prices and corruption.

The U.S-based Nigerian lawyer, Godson Nnaka, had laid claim to the fact that the Nigerian Government must pay him the $320 million as legal fee for the forfeiture of the $550 million of the Abacha loot still trapped in the United States.

But the Judge, in dismissing Nnaka’s case, held the claimant was not entitled to such payment since he was not a party to the forfeiture case filed by the US Department of Justice in conjunction with Nigeria. So the money is coming home now.