Liechtenstein said yesterday that it would return the sum of $227 million to Nigeria,ending a drawn-out battle between the country and the Federal Government of Nigeria to recover cash looted by former military dictator,late General Sani Abacha. Late Abacha,who died in 1998, is suspected to have looted the Central Bank of Nigeria to the tune of $2.2 billion when he ruled from November 1993 to June 1998.
The tiny country of 37000 people returned 7.5 million euros to Nigeria in late 2013,but the release of the bulk of the cash has been blocked by lawsuits brought by companies linked to Abacha's family.
The big question is: Will President Jonathan-led administration make a judicious use of the money? How far will the money go in revamping the nation's comatose economy?
The money will be squandered.No be Nigeria?Na today?
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