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Governor Bagudu to Lose $150 million Allegedly Stolen From Nigeria As US Govt Goes After Him

Posted by Thandiubani on Wed 09th Mar, 2022 - tori.ng

The United States alleged that the governor was part of a gang-controlled by Sani Abacha which misappropriated billions of dollars from state coffers in the 1990s.

The United States has said it will resume legal actions to seize about $150 million allegedly laundered by Kebbi State Governor Atiku Bagudu.

The report by Bloomberg revealed that Bagudu tried to make an out of court settlement with the US but failed.

The United States alleged that the governor was part of a gang controlled by Sani Abacha which misappropriated billions of dollars from state coffers in the 1990s.

A UK court had frozen the family investment in 2014 following a request from the United States.

The Nigerian government in 2019 said it was unable to assist the United States with the case as a previous agreement had been made with Bagudu in 2003.

Bagudu’s brother, Ibrahim, is however challenging the forfeiture of the funds in a federal court in Washington.

Ibrahim is of the belief that an out-of-court settlement is still possible with US and UK government officials.

US authorities and the Bagudu family obtained a stay of the judgement in 2020 to enable the parties to negotiate a resolution but with no agreement reached, the case is set to resume, according to court documents dated March 2.