Nigeria investigating Abacha assets

[Ulhas Joglekar]

12 January 2000
Nigeria investigating Abacha assets
GENEVA: Nigeria is preparing legal moves to investigate assets that the late
dictator Gen. Sani Abacha may have deposited in Luxembourg, France and
Germany, a lawyer for the government said Monday.
``Several hundred million dollars'' are involved, said Enrico Monfrini, who
is coordinating Nigerian efforts to retrieve money Abacha and his associates
deposited overseas.
An official in Geneva said last month that $551 million has been frozen in
Swiss bank accounts related to Abacha. About 120 accounts have been frozen
at banks in Geneva and Zurich.
Monfrini said ``concrete indications'' have emerged of Abacha assets in
France, Germany and Luxembourg as well.
After a request from Nigeria, Swiss authorities in October ordered a
provisional block on any accounts in the name of Abacha, his relatives and
associates. Geneva authorities have opened their own money-laundering
inquiry in connection with the assets.
Nigeria plans to formally request legal assistance from Switzerland,
Monfrini said.
The West African country has until Thursday to present the formal request
and must specify a link between investigations in Nigeria and the blocked
assets.
Abacha's five-year rule ended in June 1998 after he died of an apparent
heart attack. His police state was notorious for its brutality, and his tiny
circle of business partners, aides and friends earned hundreds of millions
of dollars though graft and kickback schemes.
Nigeria's new civilian President Olusegun Obasanjo was elected last February
and took office in May. (Associated Press)
For reprint rights: Times Syndication Service
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