Fresh Abacha loot to be released by US, as FG signs conditional deal
In order to repatriate a total of $23, 439, 724 that was allegedly stolen by the late former military head of state, General Sani Abacha, the Federal Government inked a new deal with the United States of America on Tuesday.
Abubakar Malami, SAN, Attorney-General of the Federation and Minister of Justice, represented the FG at the signing of the asset return agreement, which took place at the Federal Ministry of Justice Headquarters in Abuja. Mary Beth Leonard, US Ambassador to Nigeria, represented the US government.
Malami claimed that a series of discussions and meetings between Nigeria, the US Department of Justice, and the UK National Crime Agency, NCA, resulted in the decision to restore the stolen cash, which he dubbed the "Abacha-5."
Malami stated further, "In line with the terms of this Agreement, Mr President had already approved the funds to be utilized for the ongoing Presidential Development Infrastructural Funds, PIDF, projects, namely; Abuja-Kano Road, Lagos-Ibadan Express Way and the Second Niger Bridge under the supervision of Nigerian Sovereign Investment Authority, NSIA.
"The President’s mandate to my office is to ensure that all international recoveries are transparently invested and monitored by civil society organizations to compete for these three projects within the agreed timeline."©Standard Gazette, 2021. Unauthorized use and/or duplication of this material without express and written permission from this site’s publisher is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Standard Gazette with appropriate and specific direction to the original content.