Don't loot the loot

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The U.S government warns the Nigerian Government that any inappropriate expenditure from the refunded loot will trigger its clawback clause

The President Trump administration warns the shrewd and embattled government regime of Nigeria to be ready to refund the Abacha's loot returned to its treasury if it will not be accounted for. 

 

Needless to convince anyone, the obscure practices of the current administration of Nigeria is evident to the world, the need for accountability demanded by a foreign government on how a nation spends its money speaks volumes of the perception of this nation. 

 

In February, The United States and the British dependency of Jersey agreed with the Nigerian Government to return the $300m Abacha loot. 

However, concern was raised by high ranking member of senate, Mr Charles Ernest Grassley on the prudence of repatriation of the fund, evidently due to the record of shrewd practices of the administration. 

In response to this, the U.S Justice department attached a "refund clause", highlighting public projects on which the funds must be used for. 

 

Full accountability of the money is requested by the U.S and any point it concluded that funds were being used for inapplicable expenditure, the Federal Republic of Nigeria will be liable to refund fully this amount back to the United States due to the "Clawback" clause agreed upon by both government before the fund was returned to Nigeria. 

 

Comments
Stanley Onyekachi 8 months ago

Our government really need to be held accountable for how the Abacha loot is managed. Thanks for the useful information.

 
 
Elviskizzy 8 months ago

Nice

 
 
Adeola Zayyad 8 months ago

Nigeria

 
 
Esther Mmasichukwu 8 months ago

Nigeria is a lost course

 
 
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