President Muhammadu Buhari has written for the return of assets taken away from the country and stashed away in foreign countries worldwide, IgbereTV reports
In an article published in the Financial Times of London, the President revealed that money stolen from Nigeria, by former Military leader, Sani Abacha, is estimated at about $5 billion
The President who queried the rationale behind the Western country’s decision to retain the funds stated that African countries need the funds to develop their infrastructure.
The President noted that Nigerians were delighted by the news this summer that 72 artefacts, known as the Benin Bronzes, held by the Horniman Museum in London were returning home, 125 years after being plundered by British troops.
He, however, noted also that the clamour for repatriation of looted treasures is becoming irresistible, adding that “ billions are still stashed away in Western bank accounts”
“There was once a similar clamour for the return of Africa’s stolen assets, and I see both as part of the same struggle to bring back to Nigeria what is rightfully ours.
“Siphoned from the continent by corrupt former leaders, countless billions remain stashed in western bank accounts.
“Although Nigeria has arguably been the most successful among African nations in securing the return of stolen money, it has recovered only a fraction of what remains in the west.
“Earlier this year, Nigeria was forced to take legal action against the UK National Crime Agency, after repeated delays to the return of money taken out of the country in the 1990s by former dictator General Sani Abacha.
“However, the court case reveals the scale of the challenge before us. Abacha is thought to have siphoned off up to $5bn to the west.
“This case concerned just £150mn”
He noted that given the levels of corruption across Africa, there will be a concern as to whether funds returned will be used appropriately, adding that “But we should not forget that it was through western jurisdictions that the money was laundered in the first place
