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We’ll spend $320m Abacha loot to support the poor —Buhari

Published

6 years ago

May 14, 2018

The Federal Government on Monday in Abuja announced that $ 320 m stolen funds by former late Head of State, Gen . Sani Abacha , would be spent on the Conditional Cash Transfer scheme of the administration to support the poor .Declaring open the Eighth Commonwealth Conference of Anti – Corruption Agencies in Africa , Buhari, represented by Vice -President Yemi Osinbajo , said it was one condition given by the Switzerland authorities for the repatriation of the funds .

Buhari said that The Global Forum on Asset Recovery , after its inaugural meeting in Washington , DC , in December 2017 , had facilitated efforts toward asset recovery and return.

“ The GFAR saw the signing of a Memorandum of Understanding between Nigeria and the Government of Switzerland for the return of an additional $ 320 m of the Sani Abacha loot .

“ Included in that agreement is the commitment that the funds would be invested in one of Nigeria ’ s flagship social investment programmes , the Conditional Cash Transfer scheme targeted at the poorest and most vulnerable households in our country . ’’

( NAN )