Tuesday, October 20, 2015

Revealed: See the Total Amount Late General Sani Abacha Looted from Nigeria's Treasury

The World Bank has said a lot of time is required to draw a comprehensive report detailing how the massive loot of late Sani Abacha was disbursed.
Following a request by the Socio-Economic Rights and Accountability Project, the World Bank has said a lot of time is required to give a comprehensive response on how the late Sani Abacha’s loot was disbursed.
The World Bank representative responded that the Bank requires additional time to provide comprehensive information on the spending of recovered funds looted by the late military ruler Sani Abacha during his reign in Nigeria.
“In response to your request we would like to inform you that we are still considering your request and need additional time to provide you with a more comprehensive response,” Ann May of the World Bank’s Access to Information Team said in the letter dated October 15.
She informed SERAP representatives that though in most cases it takes up to twenty working days to respond the request for information, under special circumstances it can take much more time. The special circumstances include the complex and voluminous requests that usually require consultation with the World Bank’s board of executive directors as well as the internal units and external parties.
“We regret any inconvenience that a delay may cause you and, if one does occur, will aim to minimize it as much as possible,” concluded Ann Mayin the letter, adding that the World Bank “will notify you promptly of any updates to the status of your request.”
The estimates of the funds stolen by the late military ruler, Sani Abacha during the period of his reign from 1993 to 1998 vary.
While it is estimated that the stolen funds make up at least $ 4.3 billion, some experts claim that the sum of the stolen assets is much higher and might be as huge as $ 7 billion. 
Adetokunbo Mumuni, the SERAP’s executive director, who spoke on the delays with the initiative to recover Abacha’s loot,said:
“We welcome the Bank’s decision to thoroughly consider the request. This thorough process shows the seriousness the Bank attaches to the request, and will hopefully contribute to a positive outcome that will serve the interest of justice and millions of Nigerians who want to know about disbursement of Abacha loot.”

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