In June 2014, the Principality of Liechtenstein announced that it was returning approximately $225 million in Abacha-related assets to Nigeria: "In its meeting on 17 June 2014, the Government approved repatriation to the Federal Republic of Nigeria of the last tranche of the assets associated with the family of the former president of Nigeria, General Abacha, in the amount of EUR 167 million. These assets had been declared forfeited to the Principality of Liechtenstein in a final judgment. At the same time, at the request of Nigeria and in accordance with Liechtenstein the World Bank declared its willingness to monitor the use of the repatriated assets.
On the basis of suspicious activity reports submitted to the Financial Intelligence Unit of Liechtenstein, the Liechtenstein Office of the Public Prosecutor launched corruption investigations in 2000. In 2008, the Criminal Court sentenced several companies attributed to the Abacha family to the payment of a sum of money proven to have been taken from the national budget of Nigeria. With the judgment of the Constitutional Court in 2012, the recovery of the assets became final. Since several companies did not surrender the assets subject to the recovery order, enforcement proceedings had to be carried out.
Upon conclusion of these proceedings, the assets held by one of the companies in the amount of EUR 7.5 million were repatriated to Nigeria at the end of 2013.
However, four of the companies affected by the Abacha case filed a complaint against the Principality of Liechtenstein at the European Court of Human Rights (ECtHR) in Strasbourg in August 2012, leading to a further delay in the repatriation of the remaining assets on liability grounds. In January 2014, talks were held at the governmental level in this regard between Nigeria and Liechtenstein. In May 2014, the complaint pending in Strasbourg was withdrawn by the four Abacha companies, clearing the path for repatriation of the assets once and for all.
[Source: StAR desk research/public source of information]
There were concluded investigations/prosecutions related to this case in both the country of origin (Nigeria) and country of asset location (Liechtenstein).
Specific factors that helped make the asset return possible were: 1. Application of illicit enrichment law. 2. Engagement of private counsel to act on behalf of Nigeria. 3. Use of FIU's power to suspend suspicious transactions. 4. Diligent tracing of illicit funds by investigating countries. 5. Effective co-operation between requesting and requested states and victim country.
According to a 2008 article by Attorney Enrico Monfrini, an appeal was pending before the Nigerian Supreme Court in the criminal cases arising from charges filed in 2000 and 2001 against Mr. Abacha's sons and associate.
[Source: StAR desk research/public source of information]
In jurisdiction of asset recovery(Liechtenstein), the investigative agencies were Financial Intelligence Unit; Office of the Public Prosecutor.
The Prosecuting Authority/Civil Attorney(s) in jurisdiction of asset recovery was Office of the Public Prosecutor.
The courts involved in jurisdiction of asset recovery was Criminal Court and Constitutional Court.
[Source: StAR desk research/public source of information]
Assets returned
Disbursement of funds to be monitored by the World Bank.
Assets Confiscated
Assets Frozen/Seized
| Document Title | Size and Format | Document Type | |
|---|---|---|---|
| Link | Media article | Go to site | |
| Link | Media article | Go to site | |
| Link | Media article | Go to site | |
| Abacha Liechtenstein AR Return Vanderdoes StAR blog Jun 19 2014 0 | 561.64 KB pdf | International/multilateral organization report | Download |
| Abacha Liechtenstein Repatriation Assets PR Jun 18 2014 | 662.43 KB pdf | Government report / press release | Download |
| Abacha Liechtenstein Okonjo-Iweala €185m Abacha loot Vanguard News Oct 14 2013 | 326.92 KB pdf | Media article | Download |
| Abacha Liechtenstein Nigeria fights to recover Abacha funds FT Oct 10 2013 | 239.29 KB pdf | Media article | Download |
| Liechtenstein_Abacha_Mar_2013 | 59.95 KB pdf | Court document | Download |
| Abacha Liechtenstein StGH2010 125 | 57.51 KB pdf | Court document | Download |
| Abacha Liechtenstein StGH2011 078 | 76.62 KB pdf | Court document | Download |
| Abacha Liechtenstein StGH2011 098 | 54.18 KB pdf | Court document | Download |