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Home News Abacha loot: World Bank pleads for time to compile information

Abacha loot: World Bank pleads for time to compile information

The World Bank has said it needed additional time to provide comprehensive information on the spending of recovered funds looted by the late Nigerian Head of State, Sani Abacha.

The World Bank told the human rights group seeking information on the loot, which is about seven billion dollars, that for now it is compiling information on the spending.

According to the World Bank “In response to your request, we would like to inform you that we are still considering your request and we will need additional time because the money involved is too huge for us to handle.”

The World Bank said that although it takes just 20 working days to respond to such requests, under special cases it could take much longer time. The loot stolen by the former military ruler from 1993 to 1998 is estimated to be worth 11.3 billion dollars.

The Socio-Economic Rights and Accountability Project, SERAP, had written to the World Bank demanding information on the spending of the loot recovered from the late military dictator, General Sani Abacha. The World Bank acknowledged the request and asked for more time to be able to supply comprehensive information on how the recovered Abacha loot was spent.

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