NCJ Number
201052
Journal
Forum on Crime and Society Volume: 2 Issue: 1 Dated: December 2002 Pages: 111-117
Date Published
December 2002
Length
7 pages
Annotation
This article discusses political corruption in Nigeria and recent efforts to recover billions of embezzled dollars.
Abstract
Nigeria’s former military regime was headed by the late dictator, General Sani Abacha. During his dictatorship, he and his co-conspirators embezzled at least $5 billion in assets. The assets included misappropriated funds, bribes, and kickbacks. Most of the assets were channeled out of the country through simple bank transfers. President Olusegun Obasanjo of Nigeria, who came into power in May 1999, has formed a special investigative panel to identify the embezzled monies and return them to the country of Nigeria. One million in assets was recovered during the former regime of General Abdulsalam Abubakar; the current investigative panel is in the process of seeking mutual legal assistance from other countries in its effort to track down the remaining monies. The banks involved in the investigation are some of the world’s largest commercial banks, which makes it difficult to gain cooperation. Another challenge facing the Nigerian government is the dilemma of how to bring a successful court case against those involved in the embezzlement. The author concludes with the assertion that any country attempting to recover stolen funds should be supported in their efforts by the worldwide community. The author provides some recommendations for preventing future problems with the diversion of funds, including the strengthening of official anti-corruption bodies. References