Govt shares $322.5m Abacha loot to 1.9m Nigerians – Newstrends
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Govt shares $322.5m Abacha loot to 1.9m Nigerians

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The Federal Government has disbursed the entire $322.5 million Abacha loot of 2017 to 1.9 million poor and vulnerable Nigerians.

Before making the disbursement, the money accrued an interest of $11 million where it was deposited.

Mr. David Ugolor, Executive Director of ANEEJ, an independent monitor providing independent report on the use of the funds, made this disclosure in Abuja yesterday.

Mr. Ugolor told reporters that “the Abacha loot is exhausted. An interest of $11 million was accrued in the money where it was saved and it was disbursed to around 1.9 million poor Nigerians”.

Ugolor added that “no politically motivated data was used in selecting the beneficiaries; the National Social Register was used to determine those who will benefit and the register is updated regularly to remove those who have died”.

According to the ANEEJ Executive Director, “the Abacha loot that was recovered have been exhausted, we have a responsibility to inform Nigerians and then to make sure to tell them what the money was used for”.

He noted that, “it is a very controversial issue that people sit down at home and begin to point fingers that Abacha’s money has been stolen. What we have done with this monitoring is very ground breaking”.

Ugolor said ANEEJ will publish by the end of next month, state by state data of how the money was disbursed.

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According to him, “four states have not been benefiting from the distribution of these N5,000, so we started an advocacy and the advocacy yielded the results and the government responded through the National Cash Transfer Office (NCTO) and we have since paid all these four states. The four states are Edo, Ondo, Kebi and Enugu.

In December 2017, Switzerland returned USD322.5 million of stolen funds (illicitly acquired by the late General Sani Abacha’s family) to the Federal Government of Nigeria.

The Federal Ministry of Finance requested that the funds be used to finance the $500 million IDA-financed National Social Safety Net Program (NASSP) in the form of Conditional Cash Transfers to poor and vulnerable Nigerians, which is one of the poverty alleviation programmes under the National Social Investment Programme.

A Swiss court in March 2015 ordered that the funds be repatriated on the condition that the World Bank monitors their use. Consequently, a Memorandum of understanding was entered into between the Nigeria government, the Swiss government, and the World Bank, which also identified Network on Asset Recovery (NAR) made up of civil society organizations led by ANEEJ as an independent monitor for the purpose of providing an independent report on the use of the funds.

The Federal Ministry of Justice then developed and finalized terms of reference for civil society organizations monitoring the $322.5million recovered Abacha loot and recognized ANEEJ as one of the CSOs representing the NAR in interactions with the Federal Government of Nigeria. The task was to monitor and report on the use of the funds to targeted beneficiaries.

In 2018, ANEEJ commenced the monitoring exercise under the Monitoring of Recovered Assets in Nigeria through the Transparency and Accountability (MANTRA) project. Through the MANTRA project, ANEEJ worked with six regional partners, and engaged a total of 35 CSOs and over 500 monitors for the exercise in six geopolitical zones of the country.

The exercise produced the first disbursement report of the $322.5million covering the August/September 2018 payment round to beneficiaries in 19 States.

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Police nab fake inspector, recover stolen cars

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Rivers State Police Commissioner, Olatunji Dosu

Police nab fake inspector, recover stolen cars

Operatives of the Rivers State Police Command have arrested a fake Inspector who engages in armed robbery and car snatching, among other crimes. 

This was disclosed by the Rivers State Police Commissioner, Olatunji Dosu while parading the suspect among other suspected criminals on Wednesday.

According to the Dosu, Monday Igbali, the fake inspector, was a former sergeant who was dismissed after being charged in a kidnapping case in 2021.

He noted that three fancy cars were recovered from Igbali, who runs a gang of five criminals.

Dosu states, “The command commenced an investigation in response to a report filed on August 11, 2023, by one Fibika Kingsley that his Lexus EX330 had been stolen at gunpoint along Agip Road by five gunmen.’’

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“The investigations led to the arrest of one Monday Igbali, aged 43, a native of Okwuzi in the Ogba/Egbema/Ndoni LGA of Rivers State.

“He is a former police sergeant who was dismissed after being indicted in a kidnapping case in 2021.

“Since his dismissal, he has continued to parade himself as a police officer, even claiming to be an Inspector of Police, a rank he did not attain before his dismissal.

“He works with a gang of five, with four gang members still at large.

“He has robbed a total of nine cars and sold them for between N1.3m and N2.5m each. He was arrested on March 8, 2024, at his home in Chokocho, Etche, after the police conducted due surveillance following investigations.

“We have recovered three cars from him: a Lexus 330, a Lexus IS250, and a Toyota Highlander.”

Police nab fake inspector, recover stolen cars

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Breaking: Military releases FirstNews editor, Segun Olatunji

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Breaking: Military releases FirstNews editor, Segun Olatunji

The military has finally released Segun Olatunji, editor of FirstNews, who has been in their custody since March 15.

Olatunji was released on Thursday to Nigerian Guild of Editors (NGE) General Secretary Iyobosa Uwugiaren and The Nation Deputy Editor Yomi Odunuga under a bridge in Asokoro, Abuja.

It was also learnt that the documents for his release were signed inside a security vehicle with heavily armed operatives.

The security agents were said to be masked and the number plates of their vehicles covered up.

The editor was abducted by armed men in his home in Iyana Odo, Abule Egba area of Lagos, on March 15.

His family members were kept in the dark on his whereabouts and why he was arrested.

Several groups, including the Nigeria Union of Journalists (NUJ), the Nigerian Guild of Editors, almost daily mounted pressure on the government for Olatunji’s release.

On Wednesday, the Nigerian chapter of the International Press Institute said the journalist was in the custody of the Defence Intelligence Agency (DIA).

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BREAKING: Court orders military to release 313 suspected terrorists

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BREAKING: Court orders military to release 313 suspected terrorists

A Federal High Court in Borno State has ordered the release of at least 313 suspected terrorists detained by the military.

The court ordered their release due to a lack of evidence to charge the suspects after the investigation.

Maj. Gen. Buba Edward, the Director of Defence Media Operations, announced this during the operational briefing on Thursday in Abuja.

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He said, “The court ordered the release for want of evidence after the conclusion of investigation and other ancillary matters.

“Accordingly, they would be handed over to the Borno State Government for further action.”

BREAKING: Court orders military to release 313 suspected terrorists

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