November 27, 2020

FG Set To Recover $321m Abacha Loot From US, Island Of Jersey

The Nigerian government is set to sign a tripartite agreement with the United States of America (USA) and the Island of Jersey to repatriate $321 million looted assets.

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Disclosing this while briefing State House Correspondents after the first Federal Executive Council (FEC) of 2020, the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, said the agreement is expected to be signed next week.

According to him, the funds expected to be repatriated through the agreement are those traced to the Abacha family, the former Minister of Petroleum Resources, Mrs. Diezani Alison-Maduake, Kola Aluko and former Delta Governor, Chief JamesIbori. .

According to Malami, the fund, when eventually repatriated, would be directed to fund critical projects like the Lagos -Ibadan Expressway, Abuja -Kano and the Second Niger Bridge.

Malami added that a separate €6.8m in connection with a former Governor of Delta State, Mr James Ibori, would also be repatriated, but said negotiations had yet to start on it.

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