A London court is currently investigating some links that Singapore may have to money totalling US$2 Billion (S$2.5Billion) which was stolen from Nigeria.
It is alleged that the late Nigerian dictator Sani Abacha had stolen the money from the national reserves and laundered it.
However, as the money's origin is stolen from Nigeria, the funds are liable to be seized under the UN convention against corruption.
So far, about US $1.2 Billion have been recovered by Nigeria and investigations are ongoing into the whereabouts of the rest.
Two Singapore companies, Blue Holdings(1) and Blue Holdings(2), have had their assets frozen as these investigations continue. A total of 11 parties have had their assets frozen.