Buba Galadima has said that the late Head of State, General Sani Abacha didn’t loot the country’s funds, but stashed them in foreign banks to avoid US sanctions.
Galadima in an interview with TheNation newspaper said Abacha saved the monies abroad to save the country from an impending US sanction during his administration.
The 72-yr-old politician, who was the Director-General, National Maritime Authority during Abacha’s regime said the late Head of State was advised by the then President of Iraq, Saddam Hussein and his counterpart in Libya, Muammar Gaddafi to save the monies in foreign banks.
“I have a completely different idea about what you called Abacha loot. I know as a fact that at that time, Abacha with knowledge of key members of his government, who knew about this money being stacked out, he was rightly advised by some of his colleague presidents around the world.
“Saddam Hussein was one of them. Muammar Gaddafi was one of them. They advised him that there was the likelihood that the US could sanction Nigeria and as such he should save money outside that could last the country, at least, six months, even Nigeria’s account was blocked by the US, there won’t be panic.
I was a key figure in that government. I was one of the so-called Abacha boys if you must know. I was the Director-General, National Maritime Authority, whereby export and import to Nigeria, including crude, were directly coming under my desk. So, am in a position to talk about Abacha and the so-called loot”.
General Sani Abacha ruled Nigeria between 1993 and 1998, but since 1999, Nigeria has been receiving some of the monies he stashed abroad.
On Monday, May 4, 2020, the Nigerian government received a sum of $311 million looted from the country’s treasury during the military regime of late Head of State.
Three days after, the United States Embassy in Nigeria revealed that there was another $319m (N121bn) stolen by the late Head of State, Gen. Sani Abacha in the United Kingdom and France.