House of Representatives.
The House of Representatives on Wednesday resolved to research the restoration of funds looted by the late navy dictator, Gen. Sani Abacha throughout the administrations of former President Olusegun Obasanjo, the late President Umar Yar’Adua and former President Goodluck Jonathan.
The probe additionally covers the present administration of President Muhammadu Buhari, who concluded the newest negotiation with the Swiss Government to return $322m Abacha loot to Nigeria.
The former administrations and Buhari’s regime are to elucidate the overall funds recovered from the Abacha loot and the way the cash has been utilised through the years.
The House decision reads, “Set up an advert hoc committee to research the overall Abacha loot recovered from 1998 thus far; set up the sources and the way the cash was utilised.
“Also, set up all agreements signed by the federal government to find out whether or not they adopted due course of. “
The House, which was presided over by the Speaker, Yakubu Dogara, took the choice as lawmakers debated a movement to oppose a Memorandum of Understanding signed by the Swiss Government and the Buhari administration on how the latter would spend the $322m.
However, as the talk progressed, a former Chairman, House Committee on Appropriation, Abdulmumin Jibrin, steered that it will be higher for the House to first decide the precise quantity of funds recovered from the Abacha stash since 1998.
He defined that realizing the overall recovered and the way the funds had been spent by successive governments would help the House in taking a place on the $322m.
The House finally resolved to establish the overall of all Abacha funds recovered until date earlier than taking a ultimate stance on the $322m.