How Buhari administration planned to transfer $110 million Abacha loot to Bagudu

  • 📰 PremiumTimesng
  • ⏱ Reading Time:
  • 81 sec. here
  • 3 min. at publisher
  • 📊 Qulity Score:
  • News: 36%
  • Publisher: 78%

Court documents obtained by PREMIUM TIMES reveal that contrary to the denial of the Buhari administration, it actually approved the transfer of $110 million to Bagudu, who was Abacha’s primary money launderer.

Nigeria Headlines News

Nigeria Latest News, Nigeria Headlines

Despite attempts by the Muhammadu Buhari administration to deny the transfer of $110 million stolen from Nigeria’s treasury by late military tyrant, Sani Abacha, to Mr Abacha’s most profligate money launderer and current governor of Kebbi State, Abubakar Bagudu, United States court papers obtained by PREMIUM TIMES show that the administration signed two agreements with Mr Bagudu that effectively sealed the transfer of the money to the governor.

One of the agreements, signed on October 26, 2018, was an amendment of a 2003 agreement signed between the Bagudu family and the Nigerian government to settle all of Mr Bagudu’s civil claim against Nigeria and all of Nigeria’s civil claim, administrative, and criminal claims against Mr Bagudu for helping Mr Abacha to launder the funds.

Mr Malami on Friday released a statement that apparently sought to obfuscate the government’s agreement to pay Mr Bagudu $110 million with a different portion of the Abacha loot recently repatriated to Nigeria from the Island of Jersey. Funds held in Blue Holdings trusts are believed to be part of Nigeria’s commonwealth Mr Bagudu laundered for Mr Abacha. The contested funds are different from the $300 million Abacha loot recently repatriated to Nigeria after a tripartite agreement between Nigeria, Jersey and the United States, although it was repatriated from the accounts of one of Mr Bagudu’s money laundering vehicles, Doraville properties domiciled at Deutsche Bank in Jersey.

Nigeria claimed that the judgement exposed Nigeria to the payment of an amount equivalent to any amount as may be forfeited to the United States.The Buhari administration did not appeal the judgement obtained by Mr Bagudu from the UK court. Instead, it quickly devised a plan, using the 2018 agreement, to transfer $110 million to Mr Bagudu and his brother, Ibrahim.

The parties to the 2018 Amended Agreement argued that the payment of the money would satisfy Mr Bagudu’s default judgement against Nigeria for breaching the 2003 Settlement Agreement.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

If the thing is not real we thing d bringam

Niger delta! u allow this people bamboozle u Dieziane this Dieziane that Come and see d real thieves Bagudu, Malami, buhari

lakeside_1 Han ha why una bì lìadìs nna? AGF has since denied this

Buhari is not serious, sleeping on the job. I wonder why i even wasted my energy expecting he would be different. He is just a TOTAL waste of space and time. I give up on Nigeria!

Pls, let them give the loot to the assistant looter..there are more important things in Nigeria o. Amotekun, Supreme Court and the 'diocese of Edo' to attend to. We don't need drama...we need these thrillers.

After Buhari will be claiming that he is fighting corruption.

Land for sale

Boohari is the chief looter.

The sum keep increasing daily

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

My admin has weakened Boko Haram military capacity ― BuhariPresident Muhammadu Buhari Sunday said that his administration has significantly weakened Boko Haram’s military capability Na so! Hmm Mr. President Yes we saw that in the Nigeria Nollywood movie
Source: vanguardngrnews - 🏆 5. / 75 Read more »

Oshiomhole's enemies using children, touts against him - APC chieftain tells Buhari - Daily Post NigeriaA chieftain of the All Progressives Congress (APC), Ibrahim Emokpaire, has advised President Muhammadu Buhari, to ignore calls for the sack of the
Source: DailyPostNGR - 🏆 11. / 59 Read more »

Abacha loot: Buhari govt won't give Kebbi Gov, Atiku $100m - Malami - Daily Post NigeriaPresident Muhammadu Buhari-led government is unsettled by the reports that the United States was opposed to its alleged plan to hand $100million to Kebbi After 22year they are sending the profit back to nigeria
Source: DailyPostNGR - 🏆 11. / 59 Read more »

Face of Buhari, hands of Kyari – Daily TrustThe question of who actually runs the complex machinery of the Federal Government of Nigeria has long been on the lips of not a few citizens in various walks of life. Even from the most casual scanning of the present administration of President Muhamadu Buhari, there is a deluge of glaring evidence which graphically betray … Very unfortunate! The blunder of a man follows him like a shadow......generational nemesis implies
Source: Daily Trust - 🏆 13. / 51 Read more »

Aisha Buhari meeting, learning from ex-first ladies, not politics – Presidency
Source: MobilePunch - 🏆 8. / 63 Read more »

Why Buhari is not coming down hard on Kyari, Monguno“Our nation and people are being abandoned in the face of security threats that might cause more serious socio-political, economic hardship for petty infighting by Buhari’s henchmen.” Nice writeup, it shows this country cant not make it with these crops of APC
Source: GuardianNigeria - 🏆 1. / 94 Read more »