Abacha Loot: No plan to surrender $100m to Gov. Bagudu – Presidency



The Presidency has dismissed media reports that the Federal Government will surrender 100 million dollars from the recovered 308million Abacha loot to Gov. Atiku Bagudu of Kebbi.

A presidential source, who spoke on condition of anonymity, described the report as false, untrue and disinformation.

The source, however, confirmed that the Buhari administration inherited litigation in which the defunct Obasanjo administration ceded 100million dollars to Bagudu, an agreement also being challenged by the US government.

He said: ”It is important that the fog of misinformation and disinformation on the position of the Buhari administration on the ongoing recovery from the United States of the Abacha loot be cleared.

”The administration is currently talking to the the US government on the return of three pots or tranches of Abacha loot.

”First is the 308 million dollars which has already been agreed to.

”Yes, there is a USD 100 million yet to be resolved, which the Obasanjo administration ceded to Sen. Abubakar Bagudu, an agreement that is being litigated because the US government itself does not recognize that Obasanjo-Bagudu settlement.

”Then, there is a third tranche of USD 60 which is also a subject of private litigation by the Abacha family.”

The source, therefore, maintained that, ”claims that the Buhari administration is planning to pay 100millon dollars to Bagudu from the 308million dollars on the home stretch are absolutely untrue.

”That money, being paid to the Nigerian Sovereign Investment Authority is going into the funding of ongoing work on Lagos-Ibadan expressway, the Second Niger Bridge and the Abuja-Kano expressway.” (NAN)

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