Before making the disbursement, the money accrued an interest of $11 million where it was deposited.
Mr. David Ugolor, Executive Director of ANEEJ, an independent monitor providing independent report on the use of the funds, made this disclosure in Abuja yesterday.
Mr. Ugolor told reporters that “the Abacha loot is exhausted. An interest of $11 million was accrued in the money where it was saved and it was disbursed to around 1.9 million poor Nigerians”.
Ugolor added that “no politically motivated data was used in selecting the beneficiaries; the National Social Register was used to determine those who will benefit and the register is updated regularly to remove those who have died”.
According to the ANEEJ Executive Director, “the Abacha loot that was recovered have been exhausted, we have a responsibility to inform Nigerians and then to make sure to tell them what the money was used for”.
He noted that, “it is a very controversial issue that people sit down at home and begin to point fingers that Abacha’s money has been stolen. What we have done with this monitoring is very ground breaking”.
Ugolor said ANEEJ will publish by the end of next month, state by state data of how the money was disbursed.