BusinessDay 12 May 2020

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news you can trust I ** tuesDAY 12 may 2020 I vol. 19, no 561

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n May 4, $311 million was repatriated to Nigeria in the middle of one of the country’s worst fiscal crises ever. The amount is part of public funds still being recovered two decades after a former corrupt military leader stole around $3-$5 billion in the

early 1990s. Sani Abacha, a former dictator, ruled from November 1993 till his death in June 1998. He overthrew an interim government led by Ernest Shonekan, who was holding power with hopes of returning the country to a democratic rule. Abacha was usually behind his black glasses, a no-nonsense person who rarely smiled or left

the Aso Rock. Although his personality was enigmatic, Abacha was not the kind of person that could superficially be considered generous. He was a warlord and a gross abuser of human rights. That image of Sani Abacha, though not forgotten, has softened over time to being known more as a benevolent thief whose loot proceeds keep

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coming handy at a time that the Nigerian petrodollar state is broke – no thanks to a history of corrupt leadership and questionable fiscal federalism. So far, over $3.6 billion has been recovered from Western countries that were a haven for Abacha’s grand theft proceeds. The first part of the stolen Continues on page 31

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NGUS mar 29 2023 488.23

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Recovered Abacha loot keeps giving, but it’s a tip of illicit funds’ iceberg SEGUN ADAMS & OLUFIKAYO OWOEYE

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Coping with lockdown, Nigerians turn to baking … but hampered by soaring wheat prices CALEB OJEWALE

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he restriction of movements across states of the federation aimed at curbing the spread of COVID-19 led many Nigerians into baking of bread and confectioneries, according to data from Google. However, the rising price of wheat, a major ingredient for baking, cast a pall on what was fast becoming a past-time. As the number of COVID-19 cases in Nigeria began to rise, the Federal Government enacted a two-week lockdown on Lagos, Abuja and Ogun State, which later extended to five weeks ending May 4. Other states of the federation also followed suit with varying degrees of restrictions. Continues on page 31

Inside

Orji Kalu still in prison as counsel says working to P. 30 secure release

Abdulahi Ganduje (2nd r), Kano state governor, with officials of Private Sector-led Coalition Against COVID-19 (CACOVID) and Aliko Dangote Foundation, after the governor took delivery of 66-bed isolation centre donated by CACOVID and Aliko Dangote Foundation, in Kano, yesterday.

Attacks on COVID-19 frontline health workers by patients inhuman, unacceptable – FG P. 30


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