Home News FG to begin sharing Abacha’s loot to 302,000 poor homes in July

FG to begin sharing Abacha’s loot to 302,000 poor homes in July

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The Federal Government says it will commence disbursement of the recovered $322 million dollars Abacha loot through Conditional Cash Transfers (CCT) to 302,000 poor households in 19 states in July 2018.  Mr Tukur Rumar, of the National Cash Transfer Office (NTCO), disclosed this at an event organised by the Swiss Embassy in Abuja yesterday June 28th.

According to Rumar, 19 states which includes Niger, Kogi, Ekiti, Osun, Oyo, Kwara, Cross River, Bauchi, Gombe, Jigawa, Benue, Taraba, Adamawa, Kano, Katsina, Kaduna, Plateau, Nasarrawa, Anambra and Internally Displaced Camps (IDPs) in Borno are to benefit from the repatriated loot.

He noted that the benefiting households will be derived from the National Social Register (NSR) that the 19 states are already on and that each household would receive N5000.

Meanwhile, the Swiss Ambassador to Nigeria, Eric Mayoraz has said that the $722 million of the Abacha loot that was hidden in Switzerland was fully repatriated in 2005. He also said that the 322 million dollars that was repatriated in Dec. 2017, was money that was frozen by the Swiss Attorney-General, but was not domiciled in Switzerland, but in other countries, mainly Luxembourg.

He, however, said measures had been put in place to ensure that Swiss banks were not used to hide stolen funds from other countries.

2 COMMENTS

  1. Comment:it a good policy to share money that belongs to all 36 state of Nigeria to 19 state ..or sharing the money will in reach all the Nigeria. cos those money belong to all Nigerians not 19 state.because money sharing is not a good policy to undeveloped countries. use the money to wat common Nigeria will benefit nt to be sharing. hv u heard any countries or nation that apply sharing money policy

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