Abacha Loot: Invest in Ajaokuta steel company, Lawmaker advises BUahari

Abacha Loot: Invest in Ajaokuta steel company, Lawmaker advises BUahari

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Nigerian House of Representatives on Wednesday resolved to set up an adhoc committee to investigate the recovered Gen Sani Abacha loot from 1998 till date.
This followed a motion sponsored by Representative Sunday Karimi, representing Yagba West and East in the House.
Recall that Eric Mayoraz, Switzerland Ambassador to Nigeria, had during a roundtable on assets recovery organized by the Swizz Embassy in Abuja, noted that total sum of $722 million of the Abacha family money hidden in Switzerland has been fully repatriated in 2005.
Mayoraz was quoted as saying that additional sum of $322 million, which was frozen by the Swizz Attorney-General, was repatriated in December 2017.
The House also resolved that the Federal Government should ensure the payment of the sum of $322m recently paid by the Swiss Government into the country’s consolidated revenue account.
The lawmakers also urged the Executive arm to send a supplementary budget so that the Federal Government’s share of the money could be used in fixing the Ajaokuta Steel Company.
Contributing to the Debate, Representative Hassan Saleh, member representing Ado, Obadigbo and Okpokwu federal constituency said distribution of Abacha loot will provide another opportunity for corruption. Saleh said he smells corruption and believe the distribution would end up like Sure-P and the ungoing school feed programme.

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