How former Nigerian Dictator Sani Abacha went from $5 Billion to a humble $0.
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- Опубликовано: 4 сен 2021
- Abacha looted Nigeria's wealth with no mercy to what seemed more like an addiction or chore to him. Reports showed he had stolen and hoarded approximately 5billion USD, which is approximately 9billion USD in today's money. With over 150 banks accounts all over the world in tax heavens
So how did Abacha acquire all this money, How did he spend it and what happened to it after his death. We answer all these questions in this episode.
You wanna know the more disgusting part of this?
His family is still treated as royalty in the Northern part of the country.
It’s shameful and sad
it is very shameless!!!!
Moral of the story : Being a dictator is easier than managing money.
couldnt have said it any better
You think 🤔
Watching this can give you a headache of how hundreds of millions of people can be driven to helpless poverty by the actions of a handful.
Lies, Western Propaganda. There is NO corruption in Africa or poor countries. You can't steal what you DON'T have! Divide this so called $5 billion stolen by 200 million people, it's peanuts. Africa has no MONEY, none! Let's start telling them the truth. The truth is Africa is not industrialized or even mechanized and IMPORTS EVERYTHING. That's why they poor and got no jobs. Corruption does not stop bussines. CORRUPTION = LAS VEGAS, NYC, not mud huts everywhere....laughable.....and pre-judicial...all poor countries are poor because of corruption yeah right, LOL.
@Victor Joseph idiot. Nairobi is full of slums. Dafuq you talking about? And Africa outskirts have mudhuts. Your pride is your problem!
Yet sam country that criticises people for not bing as smart of them.
@Victor Joseph the person who is trolling you is probably an African himself lol. Africa is poor because of corruption. They are rentier states. The government is funded by minerals or oil instead of the taxes of the citizens. Therefore, the GDP of the country is controlled by a handful of people and it equals billions per month. In countries where 40-60% of the population lives off $1 USD per day, the level of money stolen from oil/minerals is more than enough for human development. There are countries in Africa that literally have the same families in control of government and minerals/oil. When they die, their family member takes their spot in the corruption network, like Equatorial Guinea and Gabon. 1st world countries have corruption as well, but its done within the confines of capitalism and business, not from government officials siphoning off entire lumps of the country's GDP. He is a troll. Anybody who comes on the Internet to insult people as an anonymous account has severe issues. In real life, he's probably a person with no friends, no access to women, and is very timid to express himself face-to-face. The Internet is his battlefield and anonymity is his weapon. If you were to bump into him at a grocery store, you would probably feel sorry for him. So just ignore him.
@@bendedstraw4294
I bet you're a virgin who still lives with his mum, bet she's fed up of you too and just waiting for the day you pack your bags and leave home.
"Funds recovered have been relooted." Alas my brothers.😕
😂😂😂 Africa wins in corruption!
Relooted 🤣😂😂🤣🥲
🤣🤣🤣🤣🤣they recover, loot it and return it back where it came from (the west)
Looool
Hahahaha
My ex husband is Nigerian and I went to Nigeria many times, the poverty i saw there broke my heart. The Nigerian people have been let down by thieves, who steal money that could better their lives and their country. I have never seen such hard working, enterprising and educated people in my life and could only imagine what their country could be like if the money it generated was used for their benefit.
Hmn... Thank you so much.
@@pastorjoshuapopoola9854 PASTORS
The enemy of an African his is fellow African and not foreigners
10x10
We are own enemies
Greed is what we Africans are dealing with within the Continent.
Banks require money to stay in business. And even better, LARGE SUMS. They don't care about the source. Corruption, drug money, arms deal money name it as long as the money isn't "Counterfeit". So asking Banks to stop accepting large sums of money is something that CAN'T HAPPEN....
This is a move in the right direction.
Thank you for this channel.
This is so sad
These financial institutions should have to pay interest as well
I remember reading the memoir of a Colonial District Officer in Nigeria, that told the tale of another District Officer who had committed suicide when an audit found inconsistencies in his accounts. The Man was later exonerated when it was proven that the Auditor had actually made an error. People need to stop blaming Colonial Rule for Nigeria's troubles and start taking responsibly.
Not getting big education which is worthless in a difunctional state, not a Brain drain, but confronting what is wrong with the country head on, otherwise things remain the same.
If the leadership is bad or corrupted take a leaf out of Hamlet's reflection " To take up arms against a sea of troubles and by opposing them END them."
Very very true 🙌🙌👌
this channel is truly an eye opener when it comes to issues facing Africa. thanks and keep it up.
Abacha was a wicked ruling beast😡 in Nigeria🇳🇬 and till date his family still experience the looting disgrace he brought upon himself & Nigeria. Unfortunately, just the same way Abacha had corrupt accomplices in his days so also all leaders that have ruled after him till now still have corrupt officials. Unless the Nigerian🇳🇬 mindset is renewed to demand accountability and justice, Nigeria 🇳🇬 will keep deteriorating☹️. Shame on all the countries that assisted with Abacha's looting.
What about your politicians I love abacha
"Switzerland is a white country built on black money" White Tiger by Aravind Addiga.
Also Brown's money.
I mean id vote to transfer the money to Biafran Independence and compensation efforts. Even though I never saw a single cent of this money or its effects.
@@hakimdiwan5101
And other Whites' money.
This applies to almost every white nation
South African here...I love this channel!
And our country is turning into a mess, I fear what the next 10 years will look like in South Africa
@@Theresho.Komane Not if we remove the ANC hyenas from power.
@@m2ranojaholo79 ANC got to go
May his soul as well as those involved in draining Nigerians rest in pieces.
Kai BTR, if that is your wish for the GUILTY, then please tell me? What are your wish for the VICTIMS of the action's of the GUILTY,,,. Lol 😁 😁 😁,,,.Ps, sorry I miss-read your last word,,,. Again lol 😁 😁 😁,,,.
Great Job, detailed research. Keep it up
You really do fantastic work in your profiles. I'm very thankful that I found your channel. Keep up the great work!
Now we need a documentary about the mysterious Nigerian Prince who likes to email foreigners.
I just discovered your channel and I love it already. You do a fantastic job with your research 👍🏾. Is have a question for you: do you also do video on CURRENT African presidents and their families? Coz I can think of a few that have been looting their countries for decades now, especially in central Africa.
Thanks for the presentation,Abacha looted so much wealth from Nigeria at behest of Western nations as they profited from the billions he stashed in their Banks.
Once again Africa is a rich continent,we are not poor,just poorly managed.Many Western nations have built generational wealth on the back on Africa.Switzerland has so much African money stashed in their Central Bank,so does France,Amerikkka,UK etc.
We still have plenty of resources to begin our 4th Industrial revolution,so a change of minds in leadership is changing that,we will lobby for Britain to return back Nigeria's money so they can fund so many projects in their Country.
Right now many African nations are undergoing rapid development,massive infrastructure projects and instead of getting dirty loans from China to fund them,we must receive back our monies that have been stashed in Central Banks of France,UK etc.That is a better way to fund our projects so we don't fall into any more dept traps by China.
Abacha could have turned the entire country of Nigeria 🇳🇬 into a "Black ⚫ Beverly Hills". Facts...
In Africa we have everything but we don't know how to use them.
What we don't have is unity. Many still think along tribal lines, and politicians play to this.
Another thing Africa does NOT have is MONEY(Dollars, Euros and Yen). Lies, Western Propaganda. There is NO corruption in Africa or poor countries. You can't steal what you DON'T have! Divide this so called $5 billion stolen by 200 million people, it's peanuts. Africa has no MONEY, none! Let's start telling them the truth. The truth is Africa is not industrialized or even mechanized and IMPORTS EVERYTHING. That's why they poor and got no jobs. Corruption does not stop bussines. CORRUPTION = LAS VEGAS, NYC, not mud huts everywhere....laughable.....and pre-judicial...all poor countries are poor because of corruption yeah right, LOL.
@@bendedstraw4294 I got dyslexia from reading your comment
HYON
The way I love your channel …
Abacha is not alone in this behavour. Africa is littered with dictators who have behaved more or less similarly. The tragedy is, their progeny have been allowed by subsequent govnts to enjoy the loot, all in the name of political stability.
And the people themselves through their fear and apathy.
Charity begins at home. There's no point blaming Western countries/banks when the African politicians are looting their own people blind. Even if all the loot had been returned to Nigeria, it would simply have been re-looted again, as the narrator pointed out. The corrupt system needs to be mended first.
@Ben O Your comment is spot on and loaded with common sense 👏🏽👏🏽👏🏽
Very much.
All banks are supposed to carry out checks on source of deposits in anyone's account as part of the Anti money laundering checks ,, so how come the British, Swiss, Jersey and Germany banks ignored this exercise ? Corruption in Europe is rife .
@@philipbanda6637 There's corruption everywhere, but if we're to be honest with ourselves, the corruption in Europe is nothing compared to the corruption in Africa. The corruption in Europe doesn't stop schools from being built, roads from being fixed, water to be pumped, and hospitals to be equipped. And once again, even if the banks in Europe rejected (or later returned) the loot, Abacha was always going to keep it as his personal property. We have to fix ourselves first.
@@beno1129
Exactly.
Despite all the Authority stealing by Abacha, he still bears Nigeria's highest National Award - Grand Commander of the Federal Republic (GCFR).
Subsequent Governments have lacked the moral courage to revoke the Award, to set an example against those who misuse their privilege positions to corruptly enrich themselves while in power to the detriment of the nation's development.
Nigeria Who has done this to us?
They aspire to be like him deep down, they are all thieves at heart
The same happens in my country Kenya. A known thief has schools,major roads, University and even an airport named after him.its disgusting
That's because the north celebrate people like him. They are used to marginalization and being oppressed.
Abiola stole obasanjo did too. Felt sang about it but only Abachas own is it talked-about. We never had any heroes past.
The title is misleading. He did not lose his (our) money because of a bad deal. The money looted is slowly being recovered and relooted to others.
Great video guys, you just gained a fan! ✊🏿
Awesome! Thank you!
@@AFRISTORYNETWORK
Avec beaucoup de plaisir!
We just need a few Lee Kuen Yew types to sort out the continent. Just imagine our awesome Nigeria or South Africa could be if it was run by competent, honest rulers. Imagine...
Fast becoming one of my favourite youtubers
Your editing has really improved
This is the OG of yahoo boys
I can remember his wife saying her family can never be as poor as Dangote
🤔🤔🤔🤔🤔🤔🤔 Dangote!!!!The Dangote i know or......?!
@@HubasaFamily254 The Dangote you know.
Yes o
She said such
What boldness
This is fresh...i love that...you are dedicated...hope you will do south africa
I love you my Nigerian brothers and sisters but if you don't come together and stop these looters from stealing our future, it's all over for all of us.
Fam, what happened to the soothing background music you always put in your videos?
_Imagine a thief stealing something from your house and giving it to his partner and when you ask for your property back from the partner, he starts giving you conditions under which he'll give it back. Chai Africans don suffer!_ 🙆🏿♂️
abolosi- if you cut off the head, the ear will go with the head.
@@omphilemathole4450
I'm not familiar with that saying bro, care to explain? Thanks. Also, are you from East or Southern Africa? Trying to see if my knowledge of African name sounds is accurate.
This video earned you a subscription from me , continue with your good work
this is why "Africa" is in perpetual poverty. Her own sons and daughters are ripping off the system and it happens all across Africa.
I love this channel!
Loving the new little memes and the catch phrases. Avid follower of this channel
Good to find Africa-centric history on RUclips
When talk about money & gold, everyone pray to the same god
Everyone don't pray to the same God. There is only one God. The Father The Son and The Holy Spirit. Any other teaching other than this comes from the evil one
@@christisgodd you do you bae
So glad for this channel. It's not just the 5 billion.
It's things like the 80 billion that was spent on a steel industry that never amounted to anything.
That's just his cut. This is why less government is always less corruption. Libertarianism is the only way forward.
This was good. I would like to see what IBB (Babangida) stole from Nigeria...
Looooving this channel.
This is greed on another level. Unbelievable! I couldn’t live with myself, even if I was the richest man in history, if it meant directly causing the impoverished suffering of millions. Crippling a nation’s economy for decades, not to mention all the violence and death from civil unrest it would cause. Someone that can live with themselves knowing that’s what they’re doing have no feelings, such as love and empathy. So that means even with all that wealth and more they still will never know happiness.
Good episode thanks 👍❤
Can anyone compare abacha to what we have today? Abacha was a saint
Abacha stole 25 billion. Maybe 5 billion dollars were recovered.
A fool and his money will soon part.
The Greatest Of All Thieves!
Everytime you meet people living extravagant life styles,just know they are enjoying stolen money.Am sure the funds recovered were still looted again.Thats the African tragedy.Its every man for himself and GOD for us all.
This is too painful to watch. What is wrong with African leaders.
The bad thing it's portails as if it's Only Abacha who loots Nigeria treasury. While rooting in Nigeria and Africa countries a
Continues with impunity.
Damn, how the hell do you lose $5 billion??? Smh he could've done alot for the country with that much money
Well if he wanted to do anything about country he wouldn't have $5 Billion in first place.
@@hakimdiwan5101, nicely put
Good production
Their punishment with begin in the grave before the day of reckoning. I’m Ghanaian but my heart hurts just from watching this video
And I see Nigerian immigrants in dingies perishing in oceans trying to escape to the shores of " milk and honey. ""How sad.
His inglorious name adorn some inglorious places in some inglorious towns!
This channel is up there with NewAfrica as an African channel that avoids the whitewashing and exposes the atrocities under European colonialism yet also avoids Afrocentrism and exposes the atrocities under African governments whether they are backed by the Europeans or not. While some Africans might be impressed with me and that I’m a white girl who knows about African history and what really happens there, at the end of the day I’m not even a white African so no matter how admirable it might me, ultimately I’m not likely to be able to change the continent. Quite frankly even tho I do believe I’m correct in what I think I also believe I should not be the one to change it because even if I’m a white Australian who wants to change the continent for the good it still looks too neo-colonial for me to do. That’s why we need channels like Afristory and NewAfrica, two channels clearly run by Africans (by the accents I am guessing they’re likely both Nigerian to be precise; correct me if I’m wrong) which preach neither whitewashing nor Afrocentrism but simply Africa having the best for its many peoples. An Africa free from war and poverty. A multicultural Africa where different ethnicities are celebrated. An Africa which emancipates the blacks but still welcomes the whites (as in white people not white imperialists obviously). While neither channel has commented on the issues, it’s likely they also want an Africa with great respect to women’s and LGBT+ rights, both of which most African nations fall very far behind. There’s hope for Africa as Africans are starting to realise that the cycle of poverty needs to stop and the main driving force has to be them. Sure non-Africans can support them (I mean people not living in Africa because at this point white people living in Africa are Africans too) but Africans must lead the charge. There have been protests that brought down oppressive governments in Ethiopia and Sudan, the people stayed strong and voted out a despot in The Gambia despite him effectively threatening them and throughout the continent there’s a lot of dissatisfaction by ordinary Africans against the corruption, human rights abuses and inequality. I think the count of people who like the Nigerian government is actually lower than the count of people who like the government in my home country of Australia despite Nigeria having 10 times the population. Despite the oppression, populations in African countries are remaining strong and demanding the change they deserve and need to develop the countries. Indeed some countries like Equatorial Guinea could easily have one of the lowest rates of poverty in the world but due to kleptocracy and corruption, the country has high levels despite a relatively high GDP.
If you think abacha lost 52billion dollars, you are deceiving yourself.
The family is richer than dangote
There are richer families than dangote they just can’t expose the source of the wealth
I *can't* wait to hear this other story about babangidas billions I wonder what that story is all about 😑😑
Not to come to the defence of the Abachas but first of all, the circumstances surrounding his death is largely unproven, so I'd call bullshit on that. Secondly, like you rightly mentioned, most of the funds repatriated have been largely relooted. Abacha might have been a crappy leader but his actions are a joke compared to what is going on in Nigeria now. At least when he stole the money, he did it in secret, right now, politicians in power steal way more money and show it off to the people with zero regards for any form of repercussions.
It's so bad in Nigeria right now that people are beginning to question how bad Abacha was? One of the rarest miracle I've seen in my life is that Nigeria is still a country, considering the extreme levels of kleptocracy going on in the country.
The watch dogs turn on the youths that are trying to make something of themselves, irrespective of the zero support they get from the government while the actual looters from the government are left to roam free instead. And if you ever complain, they turn the army and police on you, or shut down twitter.
The soldiers might have been extremely bad and unruly in the way they ruled Nigeria, but the current government in Nigeria made us wish for better times when they were still in power. And just like Fela insinuated, maybe democracy isn't the right form of government for us.
I can keep going on and on but its sad what's going on in my country, so I'm gonna rest my case here.
Ja democracy is overrated by the west and it even work in the west.
There is no more looting and stealing of public funds in Nigeria anymore, that has stopped completely.....
What happens is that leaders simply take public funds while we are watching...they don't even bother to engage in money laundering or dodgy public works contracts...they simply withdraw public fund as if they are operating their personal bank accounts.
You got it wrong, Nigerian politicians didn't fall from the sky, they are our uncles, aunties, brothers and sisters. In short, Nigeria is a corrupt society, everyone is corrupt so stop deceiving yourself about only the politicians that are corrupt. Even those in institutions of higher learning, the professor are corrupt and the administrators of those institutions are all corrupt. The police and the military are corrupt, in short even the small person selling fruits on the street would desperately be looking for ways to cheat you. To apply for a job in Nigeria they would ask you to buy the application forms that you will use to complete the job application at outrageous amounts. I think it was the former Nigerian president Obasanjo, who once said even Jesus Christ could not conduct a free election in Nigeria. And to that, I would add, bring Jesus to rule Nigeria, Nigerians would run him out of the country if not kill him, because they love their corruption and its benefits.... Again, remember, the leaders, whether in government, or non government institutions, they are our uncles, aunties, brothers and sisters...and all will protect their own.
@@SireAzi1, I couldn't have said it any better. Indeed everyone in this country is corrupt. Anyone would scam you at the slightest opportunity they get. If it were not so, we wouldn't have had thieves in every adminstration so far; we wouldn't have thieves in every ministry, parastatal, local government, state, federal, our judiciary, police, army, customs, immigration, etc. Every part of this country is testament to that.
How do we change things? Before you change the world, we must first of all begin with ourselves. Do the right thing. Don't request for bribes, don't offer them. Don't cut corners. If we start with ourselves, then maybe gradually this country can change!
@@charlesubochi2603 You are absolutely correct my friend... problem is each one of us minimizes their own decadence and point fingers at others.... you get it right, the change must start with everyone of us.
They should be put all to jail including chefs 🤨🤨🤨
God will surely judge them all.
I say it again and again this man will never rest in peaceful because the problems we have today come from him
From IBB
Whilst critical of these failed leadership’s. The enabling functions of western banks and companies is equally responsible for the lack of development of mineral and energy rich post colonial countries!!
Good content
For what shall it profit a man if he shall gain the whole world and lose his own soul ? Mark 8 v
36
He Had Looted So Much That
He Was Paid A Bribe Not To Loot...
Epic...
All Though Nigeria Is Blessed With Natural Resources...
Its Location Is A Curse...
interesting revelations about SANI ABACHA
Some nations love him Because it Will turn full circle back to us darling
This must be the guy sending all those Nigeria letters to the West. ^^
He stole more than some countries’ gdp at the time
This is pure greed, the need for more and more money never stops.
Would be nice if you have subtitles
You can call him the father of all con Nigerian princes.
Life is really not fair. Abacha did a lot of good things when he was alive
1. Reducing inflation from 54% to 8%
During the Sani Abacha regime, the rate of inflation in the country fell drastically from a rate of over 50% to 8% despite low oil sales revenue, which was between $7-15 per barrel.
2. Maintained value of Naira at N22= $1 (no devaluation)
The late general never devalued the naira and was able to maintain the value at N22= $1 during his years in power.
3. Did not accept IMF loan due to unfair terms.
The regime of Abacha did not collect any loans from the International Monetary Fund as a result of the terms and conditions attached. Yet he was able to build many infrastructures and construct 25-100 km of urban roads in major cities such as Gusau, Kano, Benin, Zaria, Enugu, Kaduna, Ab, Funtua, Lagos, Port Harcourt, and Lokoja, which are all standard.
4. Maintained our infrastructure through the creation of the Petroleum Trust Fund
Infrastructural development was maintained by the creation of the petroleum trust fund. The PTF serves as an intervention fund for several monumental projects. There are still many visible community projects being sponsored by the PTF.
5. Abacha Grew The Federal Reserves
Abacha's regime grew Nigeria's foreign reserves from $494 million in 1993 to $9.6 billion by the middle of 1997 and reduced the external debt of Nigeria from $36 billion in 1993 to $27 billion by 1997.
6. Brought the privatisation policy implemented by Babangida to a gradual stop.
Sani Abacha stopped the excessive privatisation which Gbadmosi Babangida began.
The wicked and hearthless people that destroyed Nigeria
What happened to the returned money anyway?
What where they doing with that much money
It’s just crazy
Gowon disappeared with one third of Central Bank
Nobody even remember him anymore, may him never rest in peace amen...
Given that Nigeria has identified foreign mining companies paying bribes to the dictator of Nigeria, Nigeria should cancel their mining permits and nationalise the mines. If the foreign governments facilitate the return of stolen funds Nigeria should agree to renegotiate mining rights.
If Nigeria does not demonstrate openness in its use of repatriated stolen money to provide industry and jobs for Nigerians, and infra-structure like roads, housing and hospitals, Nigeria will get no sympathy or co-operation from the Banks and governments involved.
Richest ancestor.....
Abacha is still the better president than those of today.....and some of the once vying for the spot now !!!!!!
That is a fact. I'm fascinated at the fct that an overwelming majority of people worldwide don't know the true reason for abacha's unaliving. Abacha got taken out because he refused to accept a loan from the american government during the bill clinton regime, the types of loans that put most african nations in dept that they're never able to pay back which gives the openning for these western govenments to lay claim to oil pipelines, oil refineries etc. as soon as he got eliminated, clinton met with obasanjo aka a loyal puppet for the west and he accepted the loan. Since then the nigerian economy has been on a speedy decline.
ever since i started watching mini documentaries on Abacha i hv stumbled upon contrasting views, documentaries portray him as an evil man but some people recognize him as a great leader who ofcz made mistakes bt loved his country!Whatever the case,i think the mainstream image portrayed of him should be taken with a grain of salt as there is tendency of vilifying great African leaders!
What awaits Kenyans when WSR takes over government
Boss, shit will hit the roof, we'll be a damned nation, already seeking dual citizenship elsewhere cz this is a death trap and dumb folks are already too fucked up to notice
Man, feel so helpless.He will be like This Abacha guy for sure😭
This was what was awaiting Zambia, but we Zambians kicked out the crooks, in time
Now awaiting to go in their new homes. Inshallah
We will not let it happen
You are right sir Ruto should be blocked from getting powere by all means Raila Odinga is at least.
He had me at declaring war with the US
General Bougou Bougou, I am you now
I see he was a fan of the grape swisher sweets. iykyk
Abacha stole just a little when compare to the rest.
That's right
All that money not a minute more of life could buy. Dust in the wind.
This is african culture
We have soooooooooooo much money in Africa 🤦🏿♂️🤦🏿♂️🤦🏿♂️
they're returning the money because US Doll is about to sink
His jailing & torture of Nigeria's President-elect Moshood Abiola.
Mr. Abiola was jailed upon the election's known results.
He stayed 5 years & was freed only upon Abacha's death.
That was only for him to die a short time later due to his prison treatment.
We should blame this man