News

FG SHARES $322.5 MILLION ABACHA LOOT TO 1.9 MILLION NIGERIANS

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The Federal Government has disbursed the entire $322.5 million Abacha loot of 2017 to 1.9 million poor and vulnerable Nigerians.
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Before making the disbursement, the money accrued an interest of $11 million where it was deposited. Mr. David Ugolor, Executive Director of ANEEJ, an independent monitor providing independent report on the use of the funds, made this disclosure in Abuja yesterday.
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Mr. Ugolor told reporters that “the Abacha loot is exhausted. An interest of $11 million was accrued in the money where it was saved and it was disbursed to around 1.9 million poor Nigerians”. He added that “no politically motivated data was used in selecting the beneficiaries; the National Social Register was used to determine those who will benefit and the register is updated regularly to remove those who have died”.

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