The Federal Government has distributed the $322.5 million Abacha Loot 2017 to 1.9 Million poor and vulnerable Nigerians.
The money had an interest rate of $11million before it was disbursed. This disclosure was made by Mr. David Ugolor yesterday in Abuja. He is the Executive Director of ANEEJ. An independent monitor provides independent reports on the use and misuse of funds.
Reporters were told by Mr. Ugolor that the Abacha loot was exhausted. The interest on the money was earned and distributed to approximately 1.9 million poor Nigerians. He said that no politically motivated data was used for selecting beneficiaries. The National Social Register was used to identify those who would benefit. This register is regularly updated to remove those who have d#ed.
The ANEEJ Executive Director stated that “the Abacha loots that were recovered have been exhausted”. He said that it was his responsibility to inform Nigerians about the loots and to then tell them the purpose of the money. He said that it was a controversial topic that people would sit down and point out that Abacha has stolen their money. This monitoring has been a game-changer.
He stated that four states were not receiving N5,000. Therefore, we began an advocacy. The advocacy resulted in the government responding through the National Cash Transfer Office (NCTO). Since then, all four of these states have been paid. These four states are Edo (Ondo), Kebi, and Enugu.
In December 2017, Switzerland returned USD322.5million of stolen funds (illicitly obtained by the family of the late General Sani Abacha) to the Federal Government of Nigeria. The Federal Ministry of Finance requested that these funds be used for the funding of the 500 million IDA-financed National Social Safety Net Program, (NASSP), in the form of Conditional cash Transfers to poor and needy Nigerians. This is one of the poverty alleviation programs under the National Social Investment Programme.