BREAKING: FG To Receive Fresh $23.4m Abacha Loot From US

Posted by Thandiubani on Tue 23rd Aug, 2022 - tori.ng

The AGF, Malami, SAN, said decision to return the stolen loot which he tagged as Abacha-5, was a product of series of negotiations and meetings.

The Federal Government will receive a fresh $23, 439, 724 from the United States being money looted by the late former military Head of State, General Sani Abacha.

FG on Tuesday, signed a fresh agreement with the Government of the United States of America, USA, for the repatriation of the looted money.

According to Vanguard, while the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, SAN, represented FG in the ceremonial signing of the asset return agreement held at the Federal Ministry of Justice Headquarters in Abuja, the US government, was represented by its Ambassador to Nigeria, Mary Beth Leonard.

The AGF, Malami, SAN, said decision to return the stolen loot which he tagged as Abacha-5, was a product of series of negotiations and meetings between Nigeria, the US Department of Justice and the UK National Crime Agency, NCA.

“It is worthy to note that 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 organization to compete these three projects within the agreed timeline”, Malami stated.

More details shortly.