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FG channel Abacha’s $103.64m loot to support the poor

FG channel Abacha’s $103.64m loot to support the poor

FG channel Abacha’s $103.64m loot to support the poor

Special Adviser to the President on Social Investments, Mrs Maryam Uwais, has disclosed that the  Federal Government has been sending the recovered Abacha loot and the International Development Association /World Bank credit to facilitate programmes designed to assist the indigent and vulnerable Nigerians.

On Monday during the training on illicit funds, Uwais in her address said that the amount of money from the Abacha loot disbursed from the IDA credit from August 2018 to the October payment cycle was  $76,538,530 and $27,099,028.

Delivering an address on Monday at the training on illicit funds, the Presidential aide said from the August 2018 to the October payment cycle, the total amount disbursed from the Abacha loot was $76,538,530 and $27,099,028 from the IDA credit.

Specifically, the funds were being sent to the beneficiaries of the National Cash Transfer Programme, an arm of the National Social Investment Programme and so far many Nigerian lives have been transformed.

Uwais noted that the Abacha loot and the IDA funds were distributed to individuals from a National Social Register compiled by the National Social Safety Net Coordinating Office. The decision to share the funds among the particular sect was reached by the Swiss government, the World Bank and the Federal Government.

This, she said, would help to ensure that the funds were well utilised and not diverted to private pockets, as was the case in the past.

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, FG channel Abacha’s $103.64m loot to support the poor
Sato Drummers at the Festival. Photo credit: The Guardian.

“In December 2014, a Swiss judge gave a forfeiture order to the effect that the money ($322.5m) recovered from the family of late General Abacha would be returned to Nigeria, one of the conditions being that the World Bank would be involved in monitoring disbursements therefrom.

“Presumably, this was as a consequence to the opaqueness that surrounded the application of recovered funds,” Uwais said.

 

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