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Money Talks.(recovery of embezzled funds from estate of Sani Abacha)(Brief Article)
With his country's legal bills rising fast, Nigerian President Olusegun Obasanjo admitted last week that the two-year fight to recover billions of dollars allegedly stashed offshore by his late predecessor Sani Abacha was no longer cost-effective. Settling with Abacha's family--who had so far blocked every move to repatriate the cash--was the only option. The main court case alone has already cost the state $1 million, said Obasanjo. Abacha's family was spending heavily--and their delaying tactics "could go on endlessly."
The settlement Obasanjo described is enormous, though. Abacha's heirs would agree not to block the repatriation of $1.2 billion from accounts in Europe. But they would keep another $100 million. Human-rights groups have denounced the agreement, arguing that it will only encourage future corruption. But Obasanjo points to the bottom line. No country has ever been able to achieve "anything close" to this, he says.
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- Pillars Seek Divorce From Sani Abacha.
- News wire article from: Asia Africa Intelligence Wire March 18, 2004 700+ words
...change their home matches venue from Sani Abacha Stadium to Kano Pillars stadium for...of Aba which ended 1-1 draw at the Sani Abacha stadium, and the fans even attacked...club. Vanguard also observed that the Sani Abacha stadium have no perimeter fence that...
- Nigeria burns, Abacha dithers. (Pres. Sani Abacha) (Country File: Nigeria)
- Magazine article from: African Business Versi, Anver September 1, 1994 700+ words
...the military government of President Sani Abacha would reach an interim accomodation...the public by the army. But President Sani Abacha, once regarded as the chief kingmaker...to dig its heels in. Paradoxically, Sani Abacha, a man who had built up a formidable...
- Nigeria after Abacha. (death of dictator General Sani Abacha)(Editorial)
- Magazine article from: African Business Versi, Anver July 1, 1998 700+ words
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- Nigerian leader Gen. Sani Abacha, 54, dies of heart attack; new ruler promises...
- Magazine article from: Jet July 6, 1998 700+ words
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- German police nab Sani Abacha's son.
- News wire article from: Asia Africa Intelligence Wire January 9, 2005 700+ words
...Abba Abacha, one of the sons of late Nigerian dictator Sani Abacha, has been placed in custody since 9 December 2004 the western...Nigeria, Der Spiegel reported. His late father, General Sani Abacha, is suspected to have embezzled US$2.2 billion from the...
- Gen Abacha - the avenging angel? (Nigerian President Gen. Sani Abacha and his...
- Magazine article from: African Business Iroh, Eddie January 1, 1997 700+ words
...decades. In this column he argues that perceptions of Gen Sani Abacha have changed dramatically over the past three years. Some...last November, which marked the third anniversary of General Sani Abacha's reign as Nigeria's Head of State, a seemingly unceasing...
- Can General Abacha put the economy back on course? (Nigeria's General Sani...
- Magazine article from: African Business Jason, Pini January 1, 1994 700+ words
...distinguished economic planner's views on Nigeria's economic direction now that General Sani Abacha has taken over the helm. When General Sani Abacha shoved the Interim National Government aside in an almost imperceptible coup on 17 November...
- Swiss to hand over Abacha files. (News).(Sani Abacha)
- Magazine article from: Swiss News June 1, 2003 700+ words
...given the go-ahead for Switzerland to assist the Nigerian authorities probing the financial dealings of the late dictator Sani Abacha. Judges rejected an appeal aimed at stopping the transfer of financial documents relating to Abacha's bank accounts in...
- Nigeria's slow progress to democracy. (under General Sani Abacha)
- Newspaper article from: New Zealand International Review Onadipe, Abiodun March 1, 1997 700+ words
General Sani Abacha's three-year political programme that is expected to usher in the Third Republic in October 1998 is almost half-way through...
- Former Nigerian presidents named in US bribery investigation.(Sani Abacha,...
- Newspaper article from: The Oil Daily Kelly, Deb March 31, 2009 700+ words
...Nigerian media on Monday detailed the scale and timing of alleged payments to three former presidents, including the late Sani Abacha, as well as Abdulsalami Abubakar and, more recently, Olusegun Obasanjo. Former Oil Minister Dan Etete was also allegedly...
Source: HighBeam Research, Money Talks.(recovery of embezzled funds from estate of Sani...