UK reveals seizure of fresh £211m Abacha loot

The United Kingdom (UK) on Tuesday revealed the seizure of fresh £211million (N82 billion) looted by General Sani Abacha, Nigeria’s late Head of State.

UK explained that the money was laundered through a Jersey Bank in the United States (US) into the Channel Islands, which was recovered by the British government. The Channel Islands are a group of British dependency islands in the English Channel, off the coast of France.

The UK government stated that until Nigeria and the US reached a distribution arrangement, it would not release the laundered fund.

National Dailylearned that a British daily newspaper, Metro, revealed that the money was put in accounts held in Jersey by Doraville Properties Corporation, a British Virgin Islands company. The newspaper reported that money was being held by the government until the authorities in Jersey, the US and Nigeria reach an agreement on how it should be distributed.