Politics FG Battles to Recover Abacha's Loot from Liechtenstein

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abujagirl

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The Nigerian Government has started an international campaign to press Liechtenstein into returning €185m of ill-gotten gains linked to the late military dictator General Sani Abacha which is still harbored in the tiny principality nearly 14 years after recovery proceedings began.

According to Financial Times, Criminal investigations and subsequent forfeiture proceedings established that the funds originated from bribes paid by Germany’s Ferrostaal AG to companies whose ultimate beneficiary was Gen Abacha. They related to a grossly inflated contract for the construction of an aluminium smelter.

Liechstenstein’s constitutional court ordered the confiscation of the funds in 2012 and in March 2013 dismissed a final appeal against the order by companies linked to the Abacha family, clearing the way for restitution of the funds.

But the Liechtenstein government has declined to accept written guarantees from Nigeria that it will compensate the principality in the unlikely event that it should incur any liabilities in a further suit that has been filed by the Abacha-linked companies at the European Court of Human Rights in Strasbourg. This could delay the return of the funds for several more years.

Liechtenstein officials claim the delay is as a result of the case in Strasbourg which would, if the court accepts to hear it, address the plaintiffs’ rights to a fair hearing under article 6 of the European convention on human rights. The European court cannot overrule Liechtenstein court rulings restoring the funds but officials in the principality fear they could be laid open to compensation claims from the Abacha-linked companies.

Ngozi Okonjo- Iweala Minister for Economy and finance described the delays as “outrageous” and accused the Liechtenstein government of being unco-operative. She told the Financial Times she plans to appeal for support for Nigeria’s claims at this week’s International Monetary Fund and World Bank meetings.

“This is about funds that were stolen by a corrupt dictator. We have spent nearly 14 years trying to get them back and we are pleading with the Liechtenstein authorities not to aid and abet the continuation of that corruption,” Mrs Okonjo-Iweala said.

Also speaking on the issue, Enrico Monfrini a Swiss lawyer working with the Nigerian government said, "“Every other country where a final court decision was taken, paid back immediately".

“They don’t want to trust these people because they are Africans, although the balance sheet of Nigeria is a lot better than France or Spain. I would call this a neo-colonialist attitude", he added.


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