Opinion
Abacha’s loot as a Nigeria metaphor
By Uche Chris
Again, another tranche of Gen. Sani Abacha’s loot of $23 million will soon be released by the U.S. to the Nigerian government.
The signing ceremony between the two countries was performed last week, raising hope that the three critical infrastructure projects to which the money is tied and had benefitted from previous tranches, will be eventually completed by the end of the end or before the exit of this administration in May 2023.
There is something about the Abacha loot that defies definition and comprehension just like Nigeria itself and her problems. Infact, President Buhari, who was toppled in a coup led by Abacha in 1985, and was also rehabilitated by him with the appointment as chairman of Petroleum Trust Fund, PTF, in 1995, once denied that there is anything like Abacha loot, and that Abacha was not corrupt. Some people have cynically insinuated that Abacha simply saved the money for the country for such a rainy day as today.
But these illogics beggar the point and not only confuse, but also distract attention from this weighty matter, and its reflection on us as a people. How much did Abacha loot from the treasury of Nigeria? Nobody can tell, simply because there were many conduits and bank accounts, and different countries involved and took place for so long to engender proper tracking and determination.
However, informed estimate by foreign and local agencies put the total loot at over $5 billion of the 1980s and 1990s value, when the exchange rate was N83 to the dollar, since the plunder would have started quite earlier when he was Chief of Army staff from 1985 to 1990 when he became Defence minister. He took over power as Head of state in November, 1993 till 1998.
Military experts say that the challenge the nation is facing today in tackling insurgency and terrorism had its root under him because little investment went into the system.
Apparently all the allocations apart from recurrent expenditure were looted. It was also the time of ECOMOG peace operations in Liberia and Sierra Leone, when massive funding was undertaken. Even the dollar value itself then was about 20% higher than present value.
How much has been recovered so far and how was it utilised? Sadly and predictably, we don’t know for sure. Like our population, oil production and revenue accruable, etc. everything is done on wide estimates.
Some estimates put the recovered loot at $3.3 billion in the past 22 years or so, which is a huge sum in today’s reckoning. But where is the money? What can we point to as the signposts of the benefits of the fund and to immortalize such national infamous absurdity in our minds, as lesson for posterity? Where are the accomplices to this national rape, and what happened to them?
Former president Obasanjo was implacably outraged by the plea bargain that signed off $230 million to the Abacha family for the disclosure of the whereabouts of loots. Yobe state governor, Atiku Bagudu, also demanded $200 million as compensation for information on the hidden riches he helped the former head of state to ‘save’ for Nigeria. In other serious countries, they will never see the day right again, not to talk of running for public office and indeed, becoming a public officer. But that is typical Nigeria for you.
One is bemused by the shenanigan of the House of Reps over this current loot and the need for them to be involved. Quite a comical lot, if you ask me! What will be their role? To find a way to feather their unproductive nest?
Their self serving argument is that any money that enters the federation account must be appropriated by the NASS before spending.
Ordinarily, this is a fair and constitutional position to take, but the situation is neither normal, ordinary nor constitutional in nature. This is criminality and the money proceeds of crime.
We’re in an extremely untenable position to lay claim to such high standards of morality and constitutional finesse. We lost these monies to wherever they were kept, and these countries, by the compulsion of emergent treaties and conventions on illicit financial transactions, are setting the moral standard of adherence to rule of law.
The argument whether they were originally complicit, or not, is irrelevant, because such transfers or money laundering were done legimately by or in the name, of a sovereign, under extant laws.
Because the previous loots returned to Nigeria were relooted by greedy public officers, with nothing to show for it, the U.S. that has championed the return of the loots, decided to obligate our government on how to maximize the benefits of the money for future generations.
To the Reps, who want the money to be spent on areas of great needs to people, which would meant consumption, the American government insists on ploughing the money into three specific projects, namely, Lagos-Ibadan expressway, Second Niger Bridge, and Abuja- Kano road; as condition for releasing the funds.
It is infantile and laughable that the honorable members are unaware and ignorant of the conditions attached to the release. It shows how diligent and conscientious they are to their responsibility, and why previous releases could not produce any tangible results.
As important as these three projects are to the country, they would never have reached completion since they were started over 10 years ago without the injection of the Abacha windfall. This is what the Americans are trying to avoid.
Significantly, the Abacha loot reflect everything we are as a nation, and why we may be far from liberation. This government came to power principally to fight corruption which was the single most important accusation the previous administration was allegedly guilty of, and Nigerians voted massively to elect.
Yet, eight years after, corruption has hit the roof-top with one person accused of stealing over N170 billion; and a high ranking police officer in charge of its Special Operations being implicated in drug and money laundering charges?
How would any country wishing to return any funds to Nigeria take such disclosures? Gen. Abacha, though long dead, speaks to us anytime these loots are discovered or released, to look at ourselves in the mirror, because any system that could permit such level of plunder perpetrated against the country is doomed.
It is not surprising that we are still here, where he left off after four regimes. The point that it happened under military rule is a mute one, because it has not abated after 22 years of democracy.
