UK's National Crime Agency uncovers another stash of Abacha loot totalling $23m

BRITAIN'S National Crime Agency (NCA) has recovered a fresh stash of cash totalling more than $23m stolen from Nigeria by the late military dictator General Sani Abacha who ruled the country between 1993 and 1998.

General Abacha is reported to have stolen up to $5bn of public money during the five years of his military dictatorship, according to Transparency International. In its latest report on a series of similar recoveries around the world, the NCA, uncovered some more cash stashed in UK banks by General Abacha.

Apparently, the recovered money forms part of a larger pool of funds identified by the US Department of Justice (DOJ) as having been misappropriated by General Abacha and his associates. Billy Beattie, the NCA's asset denial senior manager, said: "The NCA is committed to ensuring that the UK is not a safe haven for criminals to launder their proceeds of crime and civil recovery of assets is a powerful weapon in this fight." .

Police say about £100bn ($123bn) of dirty cash moves through or into Britain every year, buying everything from luxury homes to whole companies. Leaked troves of financial documents such as the Panama, Paradise and Pandora Papers have documented London's role as a global money-laundering hub.

Gene4ral Abacha's $23m was recovered after seven years of litigation and international negotiation pursued by the NCA at the request of the DOJ. These recovered funds will be transferred to the DOJ.