Abacha loot: Presidency clarifies on $100m due Bagudu

The Presidency has thrown more light on $100 million from Abacha loot meant to be paid to Kebbi State Governor, Abubakar Bagudu.

Twenty four hours after it explained that the latest  $321 million looted assets to be repatriated from Island of Jersey belonging to late Nigerian military dictator Sani Abacha, will be channeled properly to three major projects, the Presidency said the deal was sealed by the Olusegun Obasanjo administration.

The Presidency source who pleaded for anonymity said: “It is important that the fog of misinformation and disinformation on the position of the Buhari administration on the ongoing recovery from the United States of the Abacha loot be cleared.

“The administration is currently talking to the the US government on the return of three pots or tranches of Abacha loot.

“First is the USD 308 million which has already been agreed to.

“Yes, there is a USD 100 million yet to be resolved which the Obasanjo administration ceded to Senator Abubakar Bagudu, an agreement that is being litigated because the US government itself does not recognize that Obasanjo-Bagudu settlement.

“Then there is a third tranche of USD 60 which is also a subject of private litigation by the Abacha family.

“Claims that the Buhari administration is planning to pay USD 100m to Bagudu from the USD 308m on the home stretch are absolutely untrue.

“That money, being paid to the Nigerian Sovereign Investment Authority is going into the funding of ongoing work on Lagos-Ibadan expressway, the Second Niger Bridge and the Abuja-Kano expressway.”