General Sani Abacha Never Looted!

Yea! Just like Sani Abacha never died.

I've just got one question, is Nigeria better now that Abacha is dead? Have Nigerians ever considered that there could be two sides to a story? Why do we hate to accept the truth and bask in the euphoria of lies, deceit and hate? Widen your knowledge, open your mind to learning new things, it's the only way we can progress

OP on cheap weed!

@Topic:

Sometime earlier this year, I posted on this forum a personally researched article on this same claim titled The Curious Incident Of Mohammed Abacha: The Limits Of Mythomania.

I reproduce here the first post on that thread since I believe it is germane and apropos to this attempt at historical revisionism by GenBuhari

---

The Curious Incident Of Mohammed Abacha: The Limits Of Mythomania.

Since the more ardent of Muhammadu Buhari's supporters (some of whom are close friends) have tried to convince me that his unique selling point is his incorruptibility, then it behooves me to carefully consider if that is indeed the case in an objective way.

In order to understand the gravity of Mohammed Abacha's running for governor of Kano State on the CPC platform and the damage it does to General Buhari's credibilty as a paragon of anti-corruption, we need to consider the evidence of history and see how General Buhari's (and CPC's) handling of Mohammed Abacha candidacy is at odds with Buhari's claim to incorruptibilty. Actions speak louder than words. The evidence against Mohammed Abacha has been in the public domain, so Buhari and CPC have no excuse to claim that they did not know what sort of man Mohammed Abacha is before accepting him in the party.

"In addition to freezing about USD 640 million, the Swiss judicial authorities handling the case have also indicted Mohammed Abacha and Atiku Bagudu under Swiss legislation concerning money-laundering, fraud and taking part in a criminal organisation"

[see page 2 of the following link: http://www.assetrecovery.org/kc/resources/org.apache.wicket.Application/repo?nid=78488349-a33e-11dc-bf1b-335d0754ba85].

"In the context of those proceedings, the Federal Republic of Nigeria was able to demonstrate that Mohammed ABACHA had failed to disclose his assets in Switzerland and in Luxembourg, which exceeded 1.1 billion US$. This lack of disclosure had, however, no direct effect on the proceedings (although of course it dented Mohammed ABACHA’s credibility as a witness). In July 2001, separate proceedings were commenced before the High Court of Justice of London, relating to the embezzlement of 2 billion US$ from the Central Bank of Nigeria under false security pretences [see page 4 of the document at the following link: www.icc-ccs.org/home/fraudnet/publications/finish/5/46].

It is my opinion that this laxity with respect to Mohammed Abacha demonstrates a consistent pattern of behaviour on the part of General Buhari. It is my thesis that he may be perceived as not being personally corrupt but he often turns a blind eye to corruption of close associates. Witness the 53 suitcases allegation that still dogs him 27 years later. Witness his infamous declaration that "Sani Abacha was not corrupt". A statement that is given the lie by the evidence in various courts around the world. Does Muhammadu Buhari's definition of corruption exclude close associates? That the late Sani Abacha is a close associate is easily gleaned by the fact that he appointed him to head the Petroleum Trust Fund.

The Guardian Newspaper of November 3, 2002 reports on the audit of the Petroleum Trust Fund: "It is a horrendous story of criminal negligence, cynical fraud, and unprecedented disregard for all civilised standards of prudence and transparency in the disbursement of public funds. In the end, the independent consultants concluded that of the N181 billion that accrued to PTF in the four and a half years of its existence between July 1994 and July 1999, as much as N25 billion was either stolen or improperly expended."

And: ". . .when Gen. Buhari was invited to comment on the findings of the committee's consultants regarding the conduct of the empire over which he presided, he coyly retorted that he was not aware that such massive fraud went on his watch, but that in any event, he could not have benefited personally from the hideous purloining of the treasury." Former president Shagari who he overthrew was not personally corrupt, but his ministers were and yet Buhari held him responsible for the failings of his government. But in Buhari's case he disavowed all personal responsibility. Is this not bare-faced hypocrisy given that he was the one that unilaterally appointed Afri-Projects Consortium as the intervention fund's sole consultant?

Is General Buhari now also exempt from responsibility for the corrupt acts of his appointees? But the question needs to be asked: Is corruption only defined by the perception that one has not dipped his hand into the public treasury? What about if your associates are known to have been indicted as corrupt? In the Daily Trust edition of 30, March 2011, we read: "Presidential candidate of the Congress for Progressive Change (CPC) General Muhammadu Buhari was in Kano yesterday for the North-west state-by-state presidential campaign but refused to raise the hands of either the INEC-recognised Muhammad Abacha or the party’s recognised retired General Lawal Jafaru Isa as the party’s governorship candidate in the state."

What a weak and tepid response to serious corruption-related issues by a man who his more ardent mythomaniacs tell us is the solution to Nigeria's corruption. They hope their persistent hagiographization will deflect attention from the present. We live in the present and whatever decisions we make concerning General Buhari's candidacy in 2011 must take into account his actions in 2011. Mohammed Abacha has never hidden his ambition to become Kano State governor. He was once in the ANPP before migrating to CPC. Knowing this, they could easily have denied him the CPC platform.

There are serious questions that General Buhari (or supporters) should answer. Why did they accept Abacha as a member of the CPC with the weight of these indictments hanging on his neck? In responding to this question, CPC says this: "In a statement last weekend, the CPC said apart from the alleged inducement of delegates, the party was not also comfortable with Abacha’s candidature because of his numerous alleged indictments by the federal government and the United States of America, which it said he refused to disclose to the party." This as far as I am concerned is a very weak response that only the undiscerning will fall for. The Abacha case was widely publicized and the indictments were widely reported in local and foreign media [as attested by the SaharaReporters link at the end of the page]. This excuse is downright silly and is obviously a late attempt at damage control.

Having become convinced that he procured his nomination through corrupt "money politics", why did the CPC not expel him from the party? After all, one would expect that for a political party running on a supposed anticorruption platform, their party constitution would spell out punitive measures for corruption-related activities such as "money politics". In response to this, the general's supporters tell us that CPC has appealed the court judgment declaring Mohammed Abacha the CPC candidate and the general is waiting for the court's pronouncement. As far as I am concerned this is another "rule of law" ruse a la James Ibori. This situation could have been so easily prevented by denying Abacha membership of the party.

If Muhammadu Buhari's CPC (his personal vehicle for his 3rd attempt at the Presidency), where his word is revered, is acting in such a weak and permissive manner concerning Mohammed Abacha, a man indicted on charges pertaining to money-laundering, fraud and taking part in a criminal organisation; how does he expect me to take him serious with respect to his anti-corruption credentials? After all my friends have assured me that in the cut and thrust and wheeling and dealing of representative democracy, General Buhari is going to jail all corrupt governors, senators, etc.

It is my conclusion that General Buhari's present actions in the case of Mohammed Abacha are at variance with the picture presented by his supporters of a committed anti-corruption crusader.

Links.

http://www.assetrecovery.org/kc/node/52f770df-a33e-11dc-bf1b-335d0754ba85.2

http://www.saharareporters.com/article/mohammed-abacha-becomes-kano-governor

Did he send a message to you where he is.

And here I was thinking it's just the religious bigots in Nigeria that wage war against logic and an open mind.

puff puff pass is funny, but just check that you ain't puffing out what little common sense you have left. I'm nk supporter of corruption, but if one challenges conventional view, he should be challenged logically.

demdem,
Brother thank you it seems you are one of the few who is bold enough to even contemplate the fact that Abacha may have been innocent of looting.

Other love to hate and are refusing to open up their minds inspite of the undisputable evidence I have just produced.


[size=13pt]Nobody who is criticising my view has come up with any answers to few simple valid questions that I have posed:

1) What would prompt IBB and Obasanjo to blind probe Abacha? Who told them Abacha had foreign bank accounts.

2)Why would a PDP crony - Abubakar Bagunu, be the only person to link Abacha to the looted funds that they allegedly discovered. So all the $700million was owned by this  crony went to court and said he is a 50% business partner with Mohamed Abacha and that they have approx $700m in Swiss accounts.

Then the press including International news media reports and say, that $700m belonging to Abacha's family and friends and business associates have been located and the accounts frozen.

Most just say that $700m belonging to Sani Abacha has been located.


3) Why would the same PDP crony not be mentioned in any Nigerian newspapers?


4) Is it a coincidence that whilst this Abubakar Bagunu, was trying to claim that  Abacha's son owned the looted money, Abacha's son was unable to attend court and deny the charges, because Obasanjo had jailed him on trumped up charges of murdering  Abiola's wife?


4)Why would the same   Abubakar Bagunu, appear to have been rewarded for his co-operation by chairmanship of a company that won a $1billion goverment contract?

5) Why would the same   Abubakar Bagunu, appear to have been rewarded for his co-operation by being selected as PDP Senator for Kebbi State?

6) Why have the Press never pursue Abubakar Bagunu, for answers about his  looting and his association with government?[/size]

People I have supplied you with undisputable evidence to enlighten you , but it is your choice to start to question what Obasanjo /PDP government have told you about Abacha, or you could choose to wallow in ignorance.

People, a word is enough for the wise.

November 17, 1993
[size=18pt]Maiden Speech of General Sani Abacha[/size]

Fellow Nigerians, sequel to the resignation of the former Head of the Interim National Government and Commander-in-Chief of the Armed Forces, Chief Ernest Shonekan and my subsequent appointment as Head of State and Commander-in-Chief, I have had extensive consultations within the armed forces hierarchy and other well meaning Nigerians in a bid to find solutions to the various political, economic and social problems which have engulfed our beloved country, and which have made life most difficult to the ordinary citizen of this nation.

Chief Ernest Shonekan took over as Head of State and Commander-in-Chief of the Nigerian Armed Forces at a most trying time in the history of the country. Politically, economically, and socially, there were lots of uncertainties. Things appeared bleak and the atmosphere was heavy with uncertainties. However, driven by a belief in himself, his countrymen, and love for his country, he accepted to face the challenges of our time. I will, therefore, like to take this opportunity to pay tribute to him for his selfless service to the nation. He showed great courage at taking on the daunting task of heading the Interim National Government and even greater courage to know when to leave.

Many have expressed fears about the apparent return of the military. Many have talked about the concern of the international community. However, under the present circumstances the survival of our beloved country is far above any other consideration. Nigeria is the only country we have. We must, therefore, solve our problems ourselves. We must lay a very solid foundation for the growth of democracy. We should avoid any ad hoc or temporary solutions. The problems must be addressed firmly, objectively, decisively and with all sincerity of purpose. Consequently, the following decisions come into immediate effect:

The Interim National Government is hereby dissolved.
The National and State Assemblies are also dissolved.
The State Executive Councils are dissolved. The Brigade Commanders are to take over from the Governors in their States until Administrators are appointed. Where there are no Brigade Commanders, the Commissioners of Police in the State are to take over.
All Local Governments stand dissolved. The Directors of Personnel are to take over the administration of the Local Governments until Administrators are appointed.
All former Secretaries to Federal Ministries are to hand over to their Directors-General until Ministers are appointed.

The two political parties are hereby dissolved.
All processions, political meetings and associations of any type in any part of the country are hereby banned.
Any consultative committee by whatever name called is hereby proscribed.
Decree 61 of 1993 is hereby abrogated.
A Provisional Ruling Council (PRC), is hereby established. It will comprise:

The Head of State, Commander-in-Chief of the Armed Forces of the federal Republic of Nigeria as Chairman.
The Chief of General Staff as Vice-Chairman
The Honourable Minister of Defence
The Chief of Defence Staff
The Service Chiefs
The Inspector General of Police
The Attorney General and Minister of Justice
The Internal Affairs Minister
The Foreign Affairs Minister
Also, a Federal Executive Council will be put in place.

Our security system will be enhanced to ensure that lives of citizens, property of individuals are protected and preserved. Drug trafficking and other economic crimes such as 419 must be tackled and eliminated. On the current strike throughout the nation following the increase in the price of fuel, I appeal to all the trade unions to return to work immediately. We cannot afford further dislocation and destruction of our economy. On the closed media houses, government is hereby lifting the order of proscription with immediate effect. We, however, appeal to the media houses that in this spirit of national reconciliation, we should show more restraint and build a united and peaceful Nigeria.

Fellow Nigerians, the events of the past months, starting from the annulment of the June 12 presidential election, culminating in the appointment of the former Head of State, Chief Ernest Shonekan, who unfortunately resigned yesterday, are well known to you. The economic downturn has undoubtedly been aggravated by the ongoing political crisis.

We require well thought-out and permanent solutions to these problems if we are to emerge stronger for them. Consequently, a constitutional conference with full constituent powers will be established soon to determine the future constitutional structure of Nigeria. The constitutional conference will also recommend the method of forming parties, which will lead to the ultimate recognition of political parties formed by the people. While the conference is on, the reorganisation and reform of the following major institutions will be carried out:

The Military
The Police
The Customs
The Judiciary
NITEL
NNPC
NEPA
The Banking Industry
Higher Educational Institutions
This regime will be firm, humane, and decisive. We will not condone nor tolerate any act of indiscipline. Any attempt to test our will be decisively dealt with. For the International Community, we ask that you suspend judgment while we grapple with the onerous task of nation building, reconciliation and repairs. This government is a child of necessity with a strong determination to restore peace and stability to our country and on these foundations, enthrone a lasting and true democracy. Give us the chance to solve our problems in our own ways.

Long Live the Federal Republic of Nigeria.

https://www.nairaland.com/nigeria/topic-693700.192.html

Your theories are vapid.Maybe if Abacha could not be charged for financial dishonesty,but for moral dishonesty.

U don high i tell u make i nak u akpako 4 head me e comot 4 ur body

[size=13pt]

Thanks kunyeo,
Abacha's human rights record was much better than both Obasanjo's and IBB's

Nobody who is criticising my view has come up with any answers to few simple valid questions that I have posed:

1) What would prompt IBB and Obasanjo to blind probe Abacha? Who told them Abacha had foreign bank accounts.

2)Why would a PDP crony - Abubakar Bagunu, be the only person to link Abacha to the looted funds that they allegedly discovered. So all the $700million was owned by this  crony went to court and said he is a 50% business partner with Mohamed Abacha and that they have approx $700m in Swiss accounts.

Then the press including International news media reports and say, that $700m belonging to Abacha's family and friends and business associates have been located and the accounts frozen.

Most just say that $700m belonging to Sani Abacha has been located.


3) Why would the same PDP crony not be mentioned in any Nigerian newspapers?


4) Is it a coincidence that whilst this Abubakar Bagunu, was trying to claim that  Abacha's son owned the looted money, Abacha's son was unable to attend court and deny the charges, because Obasanjo had jailed him on trumped up charges of murdering  Abiola's wife?


4)Why would the same   Abubakar Bagunu, appear to have been rewarded for his co-operation by chairmanship of a company that won a $1billion goverment contract?

5) Why would the same   Abubakar Bagunu, appear to have been rewarded for his co-operation by being selected as PDP Senator for Kebbi State?

6) Why have the Press never pursue Abubakar Bagunu, for answers about his  looting and his association with government?[/size]

GenBuhari, you have been paid to start this thread. Please tell us how much you were paid.

@Gen.Buhari: As someone that admires the real Gen.Buhari, I'll say you're doing a really fantastic job of decimating his character with your drivel. If that was your intention, cool. If not, it would be wise for you to lay down the gauntlet and realize how silly you're becoming by the minute.

freecocoa:

I sure was a kid when Abacha died but I remember vividly well that I went with my big cousin to buy bread and some other things for mum,while we were still there the news came that he had died,the man at the store didn't collect money for what we bought,he asked us to go with the money cos he was happy God finally answered his prayers,people were running about the streets jubilating,I think I was 7 or so then but I I won't forget that day, that's about enough sign that Abacha was EVIL,and btw my cousin didn't give my mum the money back and he only gave me stick sweet like we called it then.
SO OP PUFF PUFF PUFF

Good to see u outside the Romance thread.

Why are average Nigerians so dumb and quick at copying nonsense? What these whole sh*t about "Puff Puff Puff" all around. A slang Snoop dogg uses on his "ganja shows and tuesday nights" is what all idi*ots in here are now typing about.

To the main issue, I have a great respect for general Buhari, both from the past and present, and I hope it will still be there in the future.

Buhari's main problem that has even failed him politically is that, he has a very terrible PR. He says things when he should, and is allows his emotions take the better part of him.

Abacha looted and looted real good. That even gave his sons (muhammed and abba) to come out to say "no matter how much Nigerian Government seize from them, the are still far richer that "Africa's proclaimed richest man (Dangote)".

The different between Abacha and the rest is, he blocked IMF and world bank from disterbilizing our economy and thereby, Looted all he can, so the damage to the economy wasn't leaking from both sides. But in the situation of IBB, OBJ, Yaradua, AbdulSalam and others, the IMF and world bank manipulates and channel our resources to enrich their countries and their organizations, as well as the government in power looting endlessly. What this translates to is the western countries will turn their faces the other way claiming the Nigerian government are not 'so' corrupt, just because they are also part of the corruption.

But in the case of Abacha, they were extremely annoyed and planned for his humiliation because he didn't give them the opportunity to loot or share in his 'National Cake' that's why his corruption stories/charges are well overblown of course to the ignorant avearage Nigerian man who never gets to think deep but only follows and believes what others tell him.

Since it appears everyone is not answering your moronic questions, let me indulge you.

GenBuhari:



Thanks kunyeo,
Abacha's human rights record was much better than both Obasanjo's and IBB's

Nobody who is criticising my view has come up with any answers to few simple valid questions that I have posed:

1) What would prompt IBB and Obasanjo to blind probe Abacha? Who told them Abacha had foreign bank accounts.

2)Why would a PDP crony - Abubakar Bagunu, be the only person to link Abacha to the looted funds that they allegedly discovered. So all the $700million was owned by this  crony went to court and said he is a 50% business partner with Mohamed Abacha and that they have approx $700m in Swiss accounts.

Then the press including International news media reports and say, that $700m belonging to Abacha's family and friends and business associates have been located and the accounts frozen.

Most just say that $700m belonging to Sani Abacha has been located.


3) Why would the same PDP crony not be mentioned in any Nigerian newspapers?


4) Is it a coincidence that whilst this Abubakar Bagunu, was trying to claim that  Abacha's son owned the looted money, Abacha's son was unable to attend court and deny the charges, because Obasanjo had jailed him on trumped up charges of murdering  Abiola's wife?


4)Why would the same   Abubakar Bagunu, appear to have been rewarded for his co-operation by chairmanship of a company that won a $1billion goverment contract?

5) Why would the same   Abubakar Bagunu, appear to have been rewarded for his co-operation by being selected as PDP Senator for Kebbi State?

6) Why have the Press never pursue Abubakar Bagunu, for answers about his  looting and his association with government?

1. What do you mean by blind probe? They know abacha had foreign account the same way EFCC and even common police knows things.

2. Most of what you said on (2) are mere assertions but the following  link http://www.assetrecovery.org/kc/resources/org.apache.wicket.Application/repo?nid=78488349-a33e-11dc-bf1b-335d0754ba85 might help you understand.

3. Are you suggesting that all the nigerian newspapers are involved in this ploy to frame abacha? SMH.  Anyway, sorry to dissapoint you, Thisday reported it on 30th April, 2000. see link:  http://allafrica.com/stories/200004300179.html

4. It is not news that corrupt people get rewarded in nigeria, how does that make abacha clean. Even Buhari who stole PTF dry is being rewarded with election votes!

5. See (4) above.

6. Again are you suggesting that all nigerian media establishment are all working together to nail abacha?  If you had done a simple googling of bagudu and abacha loot, you woulda seen that it is all over the news.


[size=14pt]Quit what you are smoking![/size]

GenBuhari:

Thanks kunyeo,
Abacha's human rights record was much better than both Obasanjo's and IBB's

i thinks it clear now that abachas widow has dropped something for christmas.

this is going from farce to outright disgusting

it must have been a different abacha who empowered a killer squad to take down those who were speaking out against him. a different one who killed saro wiwa, imprisoned obj and yardua, and treated us to a bizarre spectacle of phantom coups



take your revisionist bs somewhere else

talknafree:

Why are average Nigerians so dumb and quick at copying nonsense? What these whole excreta about "Puff Puff Puff" all around. A slang Snoop dogg uses on his "ganja shows and tuesday nights" is what all idi*ots in here are now typing about.

slow thinker, most of us have some sort of respect for the op, which is why we are making high jokes. it is fast eroding, and if he doesn't stop this ridiculous trend, he will soon find himself in the ranks of revisionists like bigb1 and kosovo, the ibb apologists

seriously i am smh.

i remember pictures of the beautiful abacha mansion in ovation. perhaps that edifice was also built on honest money.

Nigerians do not care how much you stole as long as you have touched their lives in positive ways. Abatcha is the best leader Nigeria has ever had.

Was Abacha firm,humane&decisive?
Humane,HELL NO!
Those old enuff have memories of his strike force&brutality dished out.I thank God my best friend escaped been shot dead in 1 of the numerous protests against this satanic chap.I recall fellow AKOKITES partying when dude kissed 6feet.Even soldiers joined in our rejoicing whilst driving about Yaba&Ojuelegba. This was replicated nationwide. Shows the love peeps had 4 him mirrors that Libyans had 4 Gadaffi.Abacha NA THIEF like OBJ,IBB,Atiku,dont rewrite history.

@GenBuhari

[color=#550000][td]Obasanjo claimed to have found $750million in cash at the homes of Abacha's family and friends - Iwondered how probable that somebody would store that amount of cash in their home?
It made no sense at all![/td][/color]

I don't know what planet you live see link below the loot of one of your compatriot 'The former president of Tunisia, more so I don't know where you get your theories from other than another speculations to waste people's time

http://www.alarabiya.net/articles/2011/02/20/138358.html

What I see in Abacha's case is what I see in the case of the Igbo ethnic group. A systemic lie and propaganda engineered by the owners of Nigeria to cover up an obvious truth aided by brain wash of the masses. It has been so successful that people have dumped sanity in order to justify an imagined tyrancy and stealing.


Most people born in the 90s don't even know that June 12 was not annulled by Abacha. That is the level of systemic brain wash.

I have no evidence to prove Abacha looted or not but let me just accept he looted.If Abacha could loot all that with oil selling at 9 dollar and daily production of 1.5million barrels, what about the past 10 years of above 100 dollar and over 2million barrels production?

This indictment covers just U.S banks' complicity (pay attention to the dates mentioned)

Abacha sons Mohammed and Ibrahim first became clients of the Citibank private bank in 1988. They began by opening accounts in the London office, which grew in number over time, including a special name account called "Navarrio" opened in 1994, and accounts opened in 1995 in the name of a shell corporation, Morgan Procurement Corporation. T[b]hese accounts were used, according to account documentation, for commodity trading, pharmaceutical company commissions, petroleum proceeds, and other business transactions, as well as personal investments. [CS2937; CS3252; CS3277] The funds in the London accounts fluctuated considerably over time but increased overall, with records showing overall totals of $18.5 million in 1996 [CS1893]; $45 million in 1997 [CS1890]; and $60 million in 1998 [CS2137].[/b]
After General Abacha's death in June 1998, and the initiation of a government investigation into bank accounts held by him and his family, the Abacha sons made an urgent request to the Citibank private bank in September 1998, to move $39 million out of their London accounts. The funds were then in a time deposit that would not mature for two weeks and which, if the deposits were withdrawn prematurely, would result in a hefty penalty. The Abacha sons asked and the private bank agreed to allow them to incur an $39 million overdraft secured by the time deposit and transfer the $39 million out of Citibank immediately. The bank then satisfied the loan when the time deposit matured two weeks later. In this way, the Abacha sons were able to move $39 million out of their accounts in the face of an ongoing government investigation into their funds, without even incurring a financial penalty. The London account totals then dropped to about $17.5 million.
The Abacha sons' relationship with the private bank in the United States began in 1992, when Mohammed and Ibrahim opened a special name account in New York called "Gelsobella." The account was opened, according to account documentation, to handle funds associated with an airline business the sons were starting through their company Selcon Airlines, to operate flights between New York and Lagos, Nigeria. A third signatory on the account was Yaya Abubakar, a "business partner." [CS4787] In 1994, after a third party attempted fraudulently to gain access to funds in the Gelsobella account, the sons allowed the account to go dormant and opened a second special name account in New York called "Chinquinto." In January 1996, after Ibrahim Abacha died in an airplane accident, Mohammed added another brother, Abba, to the accounts. However, the New York accounts were rarely used after Ibrahim's death and closed in late 1997.

Source:
MINORITY STAFF REPORT FOR PERMANENT SUBCOMMITTEE ON INVESTIGATIONS HEARING ON PRIVATE BANKING AND MONEY LAUNDERING: A CASE STUDY OF OPPORTUNITIES AND VULNERABILITIES November 9, 1999 - http://hsgac.senate.gov/public/_archive/110999_report.htm

I dey come.

The facts are there for all to see, your hero, Abacha, was neck-deep in corruption

Below are excerpts of a report authored by the Swiss Federal Banking Commission.

The Credit Suisse Private Banking business unit of Credit Suisse accepted funds from two sons of Sani Abacha to the amount of USD 214 million (account balance as at end of 1999). The SFBC issued a formal reprimand for the fact that Credit Suisse had not exercised the necessary diligence with regard to the account in question and had not complied with its duty to clarify the financial background to an unusual business relationship. The SFBC reprimanded the bank in particular for the fact that, despite suspicious indications such as the age and the country of origin of the two customers and the amount of the assets invested, the bank had failed to recognise that the customers were prominent political figures. The bank placed too much trust in the information provided by a long-standing customer who had introduced the new customers to the bank.

The bank Crédit Agricole Indosuez (Suisse) SA,  a subsidiary of the French banking group Crédit Agricole Indosuez, still maintains three business relationships with relatives of Sani Abacha involving a total of USD 147 million. The SFBC has issued a formal reprimand with regard to the  fact that the bank did not act with the necessary diligence in the opening and subsequent handling of two of these relationships and in the subsequent handling of the third relationship. The bank opened accounts in the knowledge that the account holders or beneficial owners were relatives of the former President of Nigeria, and without setting in motion the necessary supplementary clarification procedures

UBP Union Bancaire Privée maintains six accounts currently holding funds totalling USD 73 million. The bank also maintained three further accounts which have now been closed. All these accounts were connected to relatives of Sani Abacha. The SFBC  as-10 certained that in the opening of two accounts which have now been closed the bank did not act with the necessary diligence, in that it allowed the payment of considerable sums of money into accounts opened on a provisional basis only

The case involving M.M. Warbung Bank (Schweiz) AG, a subsidiary of the German M.M. Warburg & CO, was concluded in 1998 and dealt with  in the relevant SFBC annual report on page 41 in an anonymous form. To briefly recapitulate: the bank maintained an account of which two sons of Sani Abacha were the beneficial owners. Just under DM 300 million flowed through the account in the space of eight months under the title ‘provisional payments’, the majority of the funds being forwarded to the sister bank in Luxembourg.

Source: “Abacha funds at Swiss banks” (Report of the Swiss Federal Banking Commission) -- http://www.finma.ch/archiv/ebk/e/archiv/2000/pdf/neu14a-00.pdf

All the news stories telling us Abacha looted, does not make it the truth.

Where does news stories come from?

They rely on press briefings

Who gave to press the briefings press briefings?
-Obasanjos government (who was out to discredit and malicious blame Abacha of looting)

@OP, why don't you issue a rebuttal to the critical examination provided by Ogbondah (below), which provides a non-exhaustive list of sources for much of Abachas' ill-gotten wealth?

Gen.  Abacha  acquired  his illegal  wealth through  a  vast  business  empire that stretched  from  the  North  to  the  Atlantic  coasts  of  southern  Nigeria.  One of his business connections is Selicon  Group  owned  by  his family.  A subsidiary  company in  that  group is  the Selicon Aluminum  in  Ikot Abasi,  established  to  act  as feeder  to the  Aluminum smelting  company.  There  is  also  the  Selicon  Tannery  exporting  hide and  skins,  and  Selicon  Enterprises  which  sells  frozen  foods.  The Abacha family owned  oil servicing  company,  a  real  estate  company  and  a  nightclub.  The  lion's share  of  his  money  came  from  Chagouri  &  Chagouri,  C&C,  a Lebanese construction company that  controlled  a  big chunk  of  Nigeria's  oil  business  during his  dictatorship.  The company  was  involved  in  many  business sectors:  oil,  flour milling,  property,  construction,  aluminum smelting,  commodity  trading  and  fertilizer importation.  According to  the  June  22,  1998 issue  of  the weekly  Newswatch,  the company's total  assets  were  over  $18  billion  in  1998. At  the  zenith  of  Gen. Abacha's  political  power, the company  exported  more  than 30,000  barrels  of  crude oil  daily  through  one  of  its  own  subsidiaries,  H-oil.  One  Newswatch  account  said, C&C  made  nearly  $20  million  monthly  as  profit from  fuel importation  alone (Newswatch,  June  22,  1998:31). Another example  of  the junta's  fraudulence  and corruption  can  be  seen  from the  way it made irregular  allocation  of  50  plots in  the  Osborne  Road  lands one  of the  choicest  areas  in  Lagos - to top  military  officers,  other  influential  officials  and cronies in  1997.  A  list  of top  military  generals  and  other  beneficiaries  of  the irregular  plot  allocation  was  published in  the  September  16,  1999  issue  of  The Guardian.  The Obasanjo-administration promptly  revoked  the  allocations  in September  1999. The level of  financial impropriety  under  Abacha's  dictatorship  can  further  be  understood  from  the  way  a  member  of  his family  and  two  ministers  defrauded  the country  of  $2  billion  in  a  debt  buy-back  deal they handled  for  the  government.  The money  was  part  of  the  $2.5  billion  accumulated  debt  Nigeria  owed  Russia  in respect  of  the  Ajaokuta  Steel  Complex.

According to  a  federal  government's  announcement  on  December  2,  1998,  the then  ministers  for  Finance (Anthony  Ani)  and  Power  and  Steel (Bashir  Mohammed Dalhatu) floated  a  debt  brokerage firm  outside  Nigeria that  collected  the  $2.5  billion from  the  government.  But they  ended  up  paying  only  $500  million  to  the  creditors, and  pocketing the remaining  $2  billion.  The fraud  was  so  well  known internationally that  many  American  newspapers  reported it.  The  Grand  Rapids  Press,  Grand Rapids,  Michigan,  was  one  of  the  American  papers that  published  an  account  of the  fraud  on  December  3,  1998.

Source: Political Repression in Nigeria, 1993-1998: A Critical Examination of One Aspect of the Perils of Military Dictatorship - Chris W. Ogbondah

Abacha never stole a kobo
Just as Obasanjo never stole a kobo
Just as Yar'Adua never stole a kobo
Just as Jonathan never stole a kobo

It is said that the confirmed thief is the one that is caught.
Allow GenBuhari, it is a democracy, everyone has a right to his views.

Thanks Mods for making this hit front page.

I haven't bothered reading you long copy and paste all I would say is that all information accusing Abacha, of wealth and looting are relying on information supplied by Obasanjo, who was clearly out to discredit Abacha.

Have you compared Abacha's achievement to those of Obj in government and factor in the fact that he never took any IMF loan and was only receiving revenu from oil prices as low as $9/barrel, yet he out performed Obj who was blessed with oil revenue at $150/barrel

eGuerrilla:

@OP, why don't you issue a rebuttal to the critical examination provided by Ogbondah (below), which provides a non-exhaustive list of sources for much of Abachas' ill-gotten wealth?

Source: Political Repression in Nigeria, 1993-1998: A Critical Examination of One Aspect of the Perils of Military Dictatorship - Chris W. Ogbondah

sovpounds:

Good to see u outside the Romance thread.  

Good to be seen my brother,I do visit other boards once in a while though,I hope to leave that romance section next year cos its now filled with dummies,troublemakers and crazies,they don't add any thing to my intellect.

@olyivy,
Madam, with respect you have not adequately answered any of the questions that needs to be answered.

For example I asked what prompted them to probe Abacha for embezzlement and your answer is the bolded?  
If that is what you call answering a question, you may as well just ignore the question.

The rest of the points you say you answered are similar non- answers.

olyivy:

Since it appears everyone is not answering your moronic questions, let me indulge you.

1. What do you mean by blind probe? They know abacha had foreign account the same way EFCC and even common police knows things.
2. Most of what you said on (2) are mere assertions but the following  link http://www.assetrecovery.org/kc/resources/org.apache.wicket.Application/repo?nid=78488349-a33e-11dc-bf1b-335d0754ba85 might help you understand.

3. Are you suggesting that all the nigerian newspapers are involved in this ploy to frame abacha? SMH.  Anyway, sorry to dissapoint you, Thisday reported it on 30th April, 2000. see link:  http://allafrica.com/stories/200004300179.html

4. It is not news that corrupt people get rewarded in nigeria, how does that make abacha clean. Even Buhari who stole PTF dry is being rewarded with election votes!

5. See (4) above.

6. Again are you suggesting that all nigerian media establishment are all working together to nail abacha?  If you had done a simple googling of bagudu and abacha loot, you woulda seen that it is all over the news.


[size=14pt]Quit what you are smoking![/size]