June 24, 2024

Nigeria, US sign agreement for return of $23.4m Abacha loot


Nigeria and the United States of America on Tuesday reached an accord to repatriate $23,439,724 recovered funds that the late Head of State, General Sani Abacha was said to have looted.

At the signing of the agreement at the Federal Ministry of Justice, the Attorney General of the Federation and Minister of Justice, Abubakar Malami signed for Nigeria while the US Ambassador to Nigeria, Mary Beth Leonard signed for her country.

Malami stated that the fund, which is referred to as “The Mecosta/Sani Mohammed assets (otherwise known as Abacha Five) would be deployed to the ongoing construction of the Lagos-Ibadan Expressway, Abuja-Kano Road and the second Niger bridge.

He said Nigeria was hopeful that other pending cases such as “Bayelsa, Galactica, Blue Trust and Seaborne assets” would be resolved in Nigeria’s favour.

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