World Bank to give details of how Abacha loot was spent

Forum 7 years ago

World Bank to give details of how Abacha loot was spent

Sequel to last year’s request by the Socio-Economic Rights and Accountability Project, SERAP, for the World Bank to disclose how much of the Abacha loot was recovered and to what use it was put, the bank has asked to be given more time to produce the details of how the loot recovered from Nigeria’s late military dictator, Gen. Sani Abacha, was spent.
The World Bank had, in response to a request, supplied SERAP with a 700-page document stating the projects executed in the country with the loot recovered from Abacha. But not satisfied, SERAP appealed for more information, contending that “important portions of the information requested on how Abacha loot was spent” were missing from the document provided by the World Bank.

In a statement issued on Tuesday, the Executive Director of SERAP, Adetokunbo Mumuni, said the organisation had received a letter dated August 8, 2016 from the World Bank, requesting to be given more time to supply the additional information.


He disclosed that it was the second time the World Bank would be asking for additional time to supply the details of the Abacha loot spending.

Mumuni stated that parts of the additional information being sought by SERAP was the evidence ?of the 23 projects, which the World Bank said were executed with Abacha loot.

The organisation also sought to know?, “what became of two abandoned projects; evidence and location of the eight health centres built with the recovered Abacha loot reviewed by the World Bank; and evidence and location of the 18 power projects confirmed by the World Bank.?”

“Other aspects of the spending of Abacha loot the bank referred to its Archives Unit for processing for public access are information on how the $50m Abacha loot received before 2005 kept in the special account was spent; evidence and location of schools which benefited from the Universal Basic Education programme in the amount of N24.25bn; and evidence and location of the 13 road projects completed with the recovered Abacha loot, including the names of the three of the largest road and bridge projects in each geo-political zone,” the statement reads.