$312 Million Abacha Loot: See How Much Each Elderly Person In Nigeria Will Get If Shared Among Them

It will be recalled that over the years, Nigeria has received different tranche of Abacha looted funds from the U.S., and the latest one to be received was $312 million returned to Nigeria on Monday.

According to dailypost, the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, had announced on Monday, that the Nigerian government on Monday received $311,797,866 (N121,668,433,958.67 billion) of the Abacha loot.





The Attorney General added that the money will be used to fund projects including Lagos – Ibadan Expressway, Abuja – Kano Road, and the Second Niger Bridge.


However, a cross section of Nigerians have asked the Federal Government to change it's mind concerning how and what the money will be used for. Many had requested that the FG share the returned looted funds to Nigerians, especially for the welfare of the elderly persons in the society who can be categorized to be inactive, having spent their productive years to serve the country.




Again, that this measure will be able to cushion the effect of the economic hardship that has been brought about by the pandemic disease-COVID-19.

According to Wikipedia, Nigeria is known to have a population of almost 200 million people, in which about 2.7% belongs to age range 65 and above, amounting to about 5.4 million people.

By simple calculation, it shows that N22,500 will reach each elderly person in Nigeria if the returned Abacha looted funds were to be shared.