Tuesday, 25 March 2014

U.S. serves govt $550m forfeiture notice on Abacha's loot

United States has written the Federal Government for assistance to serve forfeiture notice on the late Gen. Sani Abacha’s son, Mohammed, an associate of the dictator, Abubakar Atiku Bagudu and Dumez Nigeria Plc.
The defendants are to forfeit over $550million and £95,910, 222.84(million) in 10 accounts and six investment portfolios linked to the Abachas in France, the Britain, British Virgin Islands and the United States.
Abacha has up till today(March 25, 2014) to file an application before the U.S District Court for the District of Columbia to either set aside the forfeiture order or vary it.
Failure to file a counter-application or ask for a stay will lead to the automatic forfeiture of the cash and other assets today.

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