UPDATED: UK Rejects FG’s Move To Give Bagudu $110m From Abacha Loot

The British government has reportedly rejected a move by the federal government of Nigeria to give $110 million from a Sani Abacha loot to an ally of the late military dictator, Abubakar Bagudu, who is the governor of Kebbi State.

Bagudu, who is a close friend of President Muhammadu Buhari and top member of the ruling All Progressives Congress (APC), was alleged to have helped Abacha in laundering the said funds.

The federal government had denied any plan to transfer the said amount to Bagudu when the loot is repatriated.

But Bloomberg reported on Monday that the move was ongoing and that the UK joined the United States government in resisting the plan.

According to the report, the U.S., UK and Nigerian governments are involved in a dispute over investment portfolios worth $155 million traced to Abacha and held in trust for Bagudu and his family.

The report said FG is seeking approval from the UK government to take ownership of the investments before returning 70% of the proceeds to Bagudu under the terms of a 2018 deal.

The U.K. government’s National Crime Agency “is opposing the Federal Republic of Nigeria’s application,” according to a motion filed by Bagudu’s brother, Ibrahim, to the District Court for the District of Columbia in the U.S. on March 30.

Abacha is estimated to have looted as much as $5 billion during his five-year rule as Nigeria’s military Head of State.