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20 Jan 2018

EFCC In Trouble As $500m Recovered Abacha Loot Goes Missing

The Economic and Financial Crimes Commission (EFCC) is battling to locate the $500m recovered from the family of the late Head of State Gen. Sani Abacha during ex-President Goodluck Jonathan’s administration.
According to The Nation, the money was repatriated from slush accounts in foreign jurisdictions.

Of the $500million, about $250million was released to the Office of National Security Adviser (ONSA)during the tenure of Col. Sambo Dasuki without appropriation. The balance of $250million cannot be traced yet.

Reports say detectives discovered that the $250million was illegally withdrawn barely two months to the end of Jonathan’s administration.

Investigators are said to be working on clues that part of the cash was spent on “extraneous matters, including media services, opinion polls and personal matters”.

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