$322 Million Dollars: Plans To Expend Last Tranche of Abacha Loot Without Approval

The House of Representatives on Wednesday moved in favour of a motion to stop the federal government from expending the last tranche of the Abacha loot or any recovered loot without parliamentary approval.

This followed a motion of urgent public importance moved by Representative Sunday Karimi from Kogi State.

The House resolved to set up an ad-hoc Committee to establish if procedures were followed, identify all agreement entered in line with the Constitution and establish the source of the money from 1998 to date and report back within six weeks.

His motion is coming weeks after the special adviser to the president on Justice Reforms, Juliet Ibekaku-Nwagu said the three hundred and twenty-two million dollars will be paid directly to the Accounts of the poorest Nigerians without recourse to the Federal Republic of Nigeria’s National Assembly.

According to the mover of the motion, No treaty between the Federal Government of Nigeria and other country shall have the force of law except to the extent to which such treaty has been enacted by the National Assembly.

The lawmaker noted that consequently no agreement or memorandum of understanding purportedly signed by the Federal government with the Swiss government can have any force of law in Nigeria except approved by the parliament.

Other lawmakers who contributed on the matter said it is not in the place of the Swiss government to tell Nigeria what to do with the looted money.

The House resolved to urge the federal government to pay the sum of three hundred and twenty-two million dollars into the Consolidated Revenue Fund and be distributed to the federating Units in line with the Current Revenue Sharing formula.

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