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Obasanjo says he left N287bn Abacha loot in treasury

14 September 2015, 11:27

Abuja - Former President Olusegun Obasanjo said he left in the national treasury over N287bn, made up of $2bn, £100m and N10bn in cash and property, being the loot recovered from the late dictator, Gen. Sani Abacha, Punch reports.

Obasanjo’s revelation was contained in the Vol. II of his memoir, My Watch. His take on the Abacha loot is slotted under the sub-heading “Recovery of looted funds” on pages 494 and 495.

The former President said the funds were paid into the treasury through the Central Bank of Nigeria.

Also read: Buhari denies meeting Obasanjo, Jonathan to halt anti-graft war

The N287bn figure was arrived at using an average exchange rate of N125.88 to a dollar in 2007 and an average exchange rate of N247.99 to a pound in the same year.

A former finance minister in the Obasanjo administration, Dr. Ngozi Okonjo-Iweala, said last year through her Special Adviser on Communication, Paul Nwabuikwu, that contrary to reports that the sum of $2bn was recovered from the Abacha’s loot, only $500m was recovered under her as Obasanjo’s finance minister.

The minister made the clarification amid differing figures on the actual amount recovered.

Read more at Punch

- News 24


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