The House of Representatives has resolved to investigate the recovery of funds looted by the late military dictator, Gen. Sani Abacha, during the administrations Olusegun Obasanjo, the late Umar Yar’Adua and Goodluck Jonathan.
The probe also covers the current administration of President Muhammadu Buhari, who concluded the latest negotiation with the Swiss Government to return $322m loot to Nigeria.
The former administrations and Buhari’s are to explain the total funds recovered from the Abacha loot and how the money has been utilised over the years.
The House resolution read, “Set up an ad hoc committee to investigate the total Abacha loot recovered from 1998 to date; establish the sources and how the money was utilised.
“Also, establish all agreements signed by the government to determine whether they followed due process. “
The House, which was presided over by the Speaker, Yakubu Dogara, took the decision as lawmakers debated a motion 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 debate progressed, a former Chairman, House Committee on Appropriation, Abdulmumin Jibrin, suggested that it would be better for the House to first determine the exact amount of funds recovered from the Abacha stash since 1998.
He explained that knowing the total recovered and how the funds were spent by successive governments would assist the House in taking a position on the $322m.
The House eventually resolved to ascertain the total of all Abacha funds recovered till date before taking a final stance on the $322m.