U.S Set To Return $23m Abacha Loot

Post created on 9:03 am

The United States Government has signed an agreement with the Federal Government to repatriate $23 million Abacha loot to Nigeria.

The agreement was signed yesterday at the office of Abubakar Malami Minister of Justice and Attorney General of the Federation.

Malami said the decision to return the stolen ‘Abacha-5’ funds was a product of a series of negotiations and meetings between Nigeria, the US Department of Justice, and the United Kingdom (UK) National Crime Agency.

“It is worth noting that, in line with the terms of this agreement, Mr. President had already approved the funds to be utilised for the ongoing Presidential Development Infrastructural Funds (PIDF), projects namely: Abuja-Kano Road, Lagos-Ibadan Expressway and the Second Niger Bridge under the supervision of Nigerian Sovereign Investment Authority (NSIA).”

At the signing ceremony Mary Leonard, US Ambassador to Nigeria, said:

“The Department of Justice and the Federal Bureau of Investigation seized these funds in response to General Abacha and his associates’ violation of US laws when they laundered these assets to the US and into accounts in the UK.