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Liechtenstein Refuses to Return Abacha’s N40Bn Loot

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General Sani Abacha, former Nigeria’s maximum ruler
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Some N40billion allegedly stolen by General Sani Abacha, former Nigeria’s maximum ruler is trapped in Liechtenstein, a doubly landlocked alpine country in Central Europe, which has employed all manner of tactics not to repatriate the loot.

Ngozi Okonjo-Iweala, finance minister, said that Nigeria has been fighting to recover the money for years, but companies linked to the Abacha family keep going to court to prevent the funds being repatriated.

Abacha was a former military dictator, who died 14 years ago,

Okonjo-Iweala was quoted as saying that, “We feel that the Liechtenstein people have been stalling for 14 years. They are just looking for excuses and I think this is where international civil society should mount pressure on these people…The authorities are holding things back.”

However, a Liechtenstein government spokesman said that the country was making efforts to return the money but a complaint in the European Court of Human Rights brought by companies affected was still pending.

According to Transparency International, Abacha looted between $3 billion (about N480billion) and $5 billion (about N800billion) of public funds during his five-year reign from 1993-1998.

A Liechtenstein court ordered the Abacha money confiscated in 2012, but companies linked to his family have mounted a challenge in the European Court of Human Rights and Liechtenstein fears being liable for the money should they win.

“We’re asking: why have they been keeping our money all this time? Fronting companies for Abacha family are trying to delay things and Liechtenstein is hiding behind that,” Okonjo-Iweala said. “Somebody’s making money off it.”

The Liechtenstein spokesman said one of the reasons the cases have dragged on for so long is that Nigeria refused the examination of witnesses in its courts as part of the procedure.

Liechtenstein, like neighbour Switzerland, is seen as an attractive destination for wealth, partly because banking secrecy laws can help keep it away from prying eyes.

Nigeria has so far recovered around $1.3 billion (about N208billion) of Abacha’s money from various European jurisdictions – more than a third of it from Switzerland.

“Switzerland has actually been quite good. They returned $500 million (about N80billion). But there’s still money lying in other parts of Europe,” Okonjo-Iweala said.

Other places where Abacha held money include France, Britain and offshore centers in the British Isles like Jersey.

Nigeria has appointed World Bank consultants to oversee the money and ensure it is properly spent, Okonjo-Iweala said.

The Liechtenstein spokesman said that despite the court case, authorities were “looking at the possibility of returning money ahead of schedule whilst still covering liability risks.”

The role of Western banks in aiding African corruption was highlighted during the trial of James Ibori, ex-governor of Nigeria’s oil-producing Delta State last year.

Ibori and his mistress were convicted in a trial that showed they had laundered millions of pounds /dollars through accounts they held at several British banks.


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IHS Nigeria Reaffirms Commitment to raising Nigeria’s Next Tech Giants from the Ilorin Innovation Hub

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Telecommunications infrastructure provider, IHS Nigeria, has reiterated its commitment to transforming the Ilorin Innovation Hub into a leading destination for talent and technology development across North-Central Nigeria. The company envisions the Hub as a launchpad for future unicorns and a magnet for young innovators from Kwara State and the surrounding regions.

Speaking during a virtual town hall session organized by the Ilorin Innovation Hub with the theme “From Ilorin to the World: Building a Globally Recognized Technology Hub,”, Mr. Kazeem Oladepo, Senior Vice President & Chief Operating Officer of IHS Nigeria, emphasized the importance of collaboration, mentorship, and community engagement in nurturing the next generation of entrepreneurs.

“We see the Ilorin Innovation Hub as a platform to attract top talent—not just from Ilorin, but from across the region’s tertiary institutions and tech ecosystem,” Oladepo said. “This is an opportunity to build globally impactful companies by harnessing local brilliance with global insight.”

Mr. Temi Kolawole, Managing Director/CEO of the Ilorin Innovation Hub, described the town hall as a homecoming for top minds with roots in Kwara State.

“This is a convergence of visionaries—people who’ve built, scaled, and invested in world-class companies—now giving back to shape a collective future,” Kolawole said. “Our partnership with IHS Nigeria exemplifies what’s possible when public sector ambition meets private sector expertise.”

Responding to a participant’s question on how individuals could contribute towards the growth of the hub, Mr. Oladepo encouraged industry experts present to engage directly with the Hub’s program managers – future Africa and Cc-Hub, provide mentorship, and help in aligning the training modules with local and global market realities.

“IHS is already investing financial, technical, and intellectual resources into the Hub. But to truly thrive, we need champions within the ecosystem—mentors who’ve built real businesses—to guide young people as they develop transformative ideas,” he noted.

Highlighting long-term sustainability, Oladepo called for the inclusion of successful professionals and entrepreneurs in the Hub’s activities to ensure relevance and adaptability.

“Let’s bring in those who’ve succeeded in fields like e-commerce, logistics, Healthtech, and Data Mining. Their insights can help refine the Hub’s programs and ensure participants extract real value,” he added.

Other speakers at the session included Ms. Anu Adasolum, Founder & CEO of Sabi, and Mr. Chris Folayan, Founder of Founder Centered. The virtual townhall was well attended with participants including tech enthusiasts, founders, startups drawn from both within and outside Nigeria.


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Airtel Nigeria Promotes World Environment Day with Nationwide Sustainability Activities

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L-r: Chief Technology Officer, Airtel Nigeria, Harmanpreet Singh Dhillon; Director, Human Resources & Administration, Airtel Nigeria, Adebimpe Ayo-Elias; Chief Executive Officer, Airtel Nigeria, Dinesh Balsingh; Director, Sanitation Services, Lagos State Ministry of the Environment and Water Resources, Dr. Hassan A. Sanuth; Director, Corporate Communications & CSR; and Marketing Director, Airtel Nigeria, Ismail Adeshina; at the sustainability seminar hosted by Airtel Nigeria in commemoration of World Environment Day at the company’s head office in Lagos on Wednesday this week.
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Telecommunications provider, Airtel Nigeria has reaffirmed its commitment to environmental sustainability with a nationwide campaign to combat plastic pollution in commemoration of World Environment Day 2025.

Themed “Ending Plastic Pollution”, this year’s events demonstrated the corporate mission of Airtel to champion environmental stewardship.

Tagged #UnPlasticAfrica, the company’s campaign began on June 3, mobilizing employees across six operating regions for a week of education, advocacy, and cleanup activities aimed at promoting sustainable living, in alignment with global efforts to reduce plastic pollution.

The activities kicked off with a Sustainability Seminar, led by Dr Hassan A. Sanuth, Director of Sanitation Services at the Lagos State Ministry of the Environment and Water Resources, and focused on the role of the individual in reducing plastic waste while promoting practical recycling habits.

Following this educational session, all Airtel Nigeria employees took the “Eco Pledge” to commit to reusable containers.

In his remarks at the seminar, Chief Executive Officer of Airtel Nigeria, Dinesh Balsingh, reaffirmed Airtel`s dedication to sustainability.

“As we invest in Nigeria’s digital future, we are equally committed to protecting the environment that sustains us. From AI-powered services that reduce paper use to partnerships that connect rural areas without environmental disruption, we are embedding sustainability into every layer of our operations,” he said.

Speaking at the workshop, Dr. Sanuth emphasized the urgency of addressing the plastic pollution crisis, particularly in urban centers like Lagos.

“Plastic waste is choking our drains, polluting our water bodies, and threatening public health. Every little action counts, from individuals making conscious choices to organizations taking bold steps and together, our collective efforts can make a significant impact in ending plastic pollution,” he noted.

He also highlighted the dangers of plastic waste, noting that microplastics have been traced in food, water, and even human blood and called for stronger policies and corporate accountability.

The highlight of the week was a market clean-up and sensitization drive held by Airtel employees in Abuja, Oyo, Benin, Enugu, and Kano. Airtel staff volunteers, in collaboration with local partners, led plastic collection efforts, conducted environmental hygiene training, and distributed over 3,000 branded reusable bags and parasols to market vendors and shoppers.

The World Environment Day campaign, nicknamed Earth Fest 2025, is part of Airtel Nigeria’s broader CSR Strategy, which continues to integrate environmental stewardship into its organizational practices.


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NOTAP Boss Laments Loss of IPR by Nigerian Researchers

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Dr. Obiageli Amadiobi, director general, National Office for Technology Acquisition and Promotion (NOTAP),  has expressed displeasure over the level of Intellectual Property Right (IPR) losses by Nigerian researchers due to insufficient knowledge of the benefits of IPR protection.

NOTAP Boss Laments Loss of IPR by Nigerian Researchers

Speaking at a one-day Coordinator’s Forum organized by the Office in Uyo for the South-South geopolitical zone of the country, the Director General, represented by Mrs. Caroline Anie-Osuagwu, director of Technology Acquisition and Research Coordination (TARC) department,  said that prior to the establishment of the Intellectual Property and Technology Transfer Offices (IPTTOs) in Nigerian knowledge establishments, Nigerian researchers had no deep knowledge of the importance of IP protection, hence losing their IP rights.

In a statement signed by Raymond Onyenezi Ogbu for the head, Public Relations and Protocol Unit of NOTAP, the DG advised researchers to always file for a patent each time they anticipate a breakthrough and avoid publishing before patenting, as any research work published in a paper is already in the public domain and can no longer be patented.

“IP rights are rights granted to a researcher or inventor by the government to have a monopoly over the financial exploitation of their inventions for a period of time to recoup the expenditure on their research undertaking”. the DG said.

She challenged patent owners to license or commercialize their inventions, adding that patents that cannot metamorphose into tangible products and services are not worth keeping, as they are liabilities to the owners.

The DG said that researchers with patented inventions can license their invention for royalty purposes or sell them outrightly to venture capitalists if they cannot commercialize.

“Over the years, the nation has depended on the consumption of products from foreign research, while Nigeria is blessed with skilled human resources but only needs to be strategic in their research understanding”.

“The aim of organizing the IPTTO coordinator’s forum was to interact with the coordinators, know their challenges and achievements, and encourage the centers that are not very progressive to strengthen their centers.” She added.

The DG stressed that while a number of centers are performing well, some are struggling to find their fit, occasioned by bureaucratic bottlenecks.

She expressed confidence in the ability of the research communities engaging in demand-driven and market-driven research to fast-track development adding that technology development is a product of research work, and knowledge institutions are duty-bound to engage in critical research to advance the IPR ecosystem in Nigeria.

Participants from the South-South Zone took turns to commend NOTAP for the impactful program and requested the Office to assist them with links to venture capitalists for the commercialization of their research results.

All the IPTTO coordinators presented their scorecards and were advised to get ready for the 2026 IPTTO ranking that would be organized by the Office.

 

 

 

 


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