Abacha’s £315m Loot Finally To Be Returned To Nigeria

Channels Island’s biggest region, The State of Jersey is going to return £315 million loot by former Nigerian presdent, Sani Abacha to Nigeria.

The Ballif of Jersey, Mr Micheal Birt made this known at a dinner to honour Dr Dalhatu Tafida, Nigerian High Commissioner to the UK during a state visit to the Island.

The Ballif who also is the Island’s Civic Head of State and ceremonial head, is the highest ranking official in the Jersey order of precedence.

The Island is famous for its fraud free banking system and has in the past returned two tranches £140 million of the loot.

The funds is said to have been laundered on behalf of Abacha by Mr Raj Bhojwani, an Indian businessman who is currently on jail in UK serving an eight year sentence.

Birt said that the Island is embarking on an ongoing campaign against money laundering.

He said: “We have done a lot to clean up the image of the Island as a safe haven for stolen wealth. What we have in place is a transparent and legal finance heaven where only legal funds can be deposited and accessed by investors.”

Responding to the quotes, Tafilda praised the Island’s transparent banking sector and said that the Nigerian government is also committed to fighting corruption and strengthening its anti-graft agencies.

General Sani Abacha served in the Nigerian Army and was the President of the nation after the 1993 coup and served till his death in 1998.