Al-mushahid Initiative For Transparency and Accountability (AITA) has called on the Economic and Financial Crimes Commission (EFCC) to expedite the investigation into allegations of $500 million looted by former head of state Sani Abacha and stashed in Quest Business System Incorporated, a foreign company.
In a letter to the commission, the NGO stated that a credible petition submitted by concerned citizens revealed that $500 million, part of the funds embezzled by Abacha, was used to purchase stock in Quest Business System Incorporated in the United States. The letter indicated that Muhammad Abacha, son of the late general, holds 40,000 stocks with a distribution percentage of 0.09 percent, making him one of the registered stockholders of the company.
The statement read, “Our informant reveals that Muhammad Abacha is one of the registered stockholders, holding 40,000 stocks with a distribution percentage of 0.09 percent.”
The NGO asserted that this is one of many fronts used by the former head of state to launder embezzled public funds. AITA, in its anti-corruption efforts, wrote to the company demanding a response to the allegations but received no reply, suggesting the allegations may hold truth.
The organization disclosed that it wrote to the EFCC on 25th October 2021, receiving a response on 23rd May 2023 (R:3000/EFCC/ABJ/HQ) CMU/TB/QB/Vol.21807, requesting a meeting for further statements and supporting documents, which AITA provided.
AITA seeks a prompt investigation into the allegations to bolster public confidence in the commission.
