The federal government has thrown more light on the challenges it is facing in the recovery of the €185 million stashed away by the late Head of State, General Sani Abacha,
in banks in Liechtenstein, one of the smallest countries in the world, located in central Europe.The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo- Iweala, told journalists in Washington DC, United States that the government of Liechtenstein was not disposed to returning the loot to the Nigerian government.
She said the German-speaking country, through shell companies, commonly called front companies, had put up legal challenges, in a bid to ensure that its banks benefited from the proceeds of the loot.
The finance minister said: “When we identified this money 14 years ago, we set up a series of steps to try and get it back. It was going through several courts.
“The companies and their representatives have always thrown legal challenges every step of the way. It got to a stage where the court in Liechtenstein had litigated that the money should be returned.
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