How we spent Abacha’s loot — Okonjo-Iweala
ABUJA—Minister of Finance and Co-ordinating Minister for the Economy and , Dr. Ngozi Okonjo-Iweala , said yesterday that the $ 500 million recovered Abacha loot was used to develop the nation’s rural areas. The minister was reacting to an article by Mr. Sonala Olumhense who claimed that $2.5 billion was recovered from the funds looted by the then maximum ruler, Gen. Sani Abacha but that the money disappeared under the minister’s watch. According to the minister, $ 500 million, not $2.5 billion was recovered and had been spent development projects in rural areas as agreed with the Swiss government. A statement by Mr. Paul Nwabikwu, Special Adviser to the minister said that the claims by Mr. Olumhense were unverified and largely false. “The problem I have with Mr Sonala Olumhense’s articles on the Coordinating Minister and Minister of Finance, Dr Ngozi Okonjo Iweala is the general absence of verified facts and the basing of opinions on gross inaccuracies. “For instance,...