Speaking at a press briefing on the Non-Conviction Based Forfeiture of Proceeds and Instrumentalities of Unlawful Activity Bill, Tim Daniel, a legal expert from the United Kingdom brought in by UNODC to assist the Economic and Financial Crimes Commission (EFCC) in the draft of the bill, stressed that even though there is proof that the missing loot was stashed somewhere, it could not be traced, This Day newspaper said.

According to him, the total of $1.9 billion so far recovered from the Abacha family by the Federal Government was significant in assets recovery but added that there were still funds stolen from Nigeria which were yet to be recovered.

He disclosed that $300 million was still to be repatriated to Nigeria from Luxembourg where it was stashed away by the late head of state, saying the letters of request by the Olusegun Obasanjo administration were yet to yield fruit. Daniel further said the late military ruler also stashed $400 million in Liechtenstein which Nigeria was yet to recover.

According to him, "the cases of Luxembourg and Liecht-enstein are cases of monies frozen or lost by banks." He added that the Federal Government and its partners had intensified efforts to trace the whereabouts of the funds, saying that he was optimistic that the efforts would bear dividends soon.

He gave a breakdown of the recovered $1.9 billion from the late head of state as $750 million voluntary surrender by the family, while $570 million was recovered from Switzerland.

"$380 million was recovered from Jersey and $150 million which was the Ajaokuta Steel plant debt was recovered from UK," he added.

The legal expert explained that assets recovery mechanisms include criminal and civil mechanisms, mutual legal assistance in criminal proceedings, international enforcement of confiscation orders, civil forfeiture and private civil proceedings.