Nigeria, US Sign Agreement on Return of Over $23m Abacha Loot
The Nigerian Government and the United States of America, USA have signed agreement for the repatriation of Mecosta/Abacha assets.
The assests is worth Twenty three million four hundred and thirty nine thousand, seven hundred and twenty four dollars.
This followed the court order and finilisation of negotiation and terms of the assets return agreement between the Nigeria Government and the United States.
The Attorney General and Minister of Justice, Abubakar Malami signed on behalf of Nigeria while Ambassador Mary Beth Leonard signed on behalf of the United States.
The Attorney General while commending efforts of US and UK, urged the government of the United States not to relent in supporting Nigeria’s commitment to the speedy and transparent management of returned assets.
He said, “As partners in the global efforts to promote an effective implementation of the United Nations Convention against corruption and against the bagckground of constrained economic resources.
” I urge you to support us in meeting these critical priorities of the Federal Government of Nigeria by working with us to finish the projects already agreed under the 2020 tripartite agreement among Nigeria, USA and the Bailiwick of Jersey for the benefits of Nigeria and it’s citizens.”
Malami said that, President Muhammadu Buhari has already approved that the funds be utilized for the ongoing Presidential Development Infrastructural funds, PIDF projects, namely, Abuja-Kano road, Lagos -Ibadan Express road and the second Niger Bridge.
The US Ambassador, Mary Beth Leonard said that the US would continue to do its part to facilitate the recovery and return of the proceeds of corruption to the Nigerian people.
She noted that, the US Department of Justice and the Federal Bureau of Investigation seized the funds in response to late General Abacha and his associates’ violation of US laws when they laundered the assets through the US and into accounts in the United Kingdom.
“This agreement is also kind of collaboration that our government must continue in order to right the wrongs committed under the previous administration, combined with a $311.7m seized and repatriated with the assistance of the Bailiwick of Jersey and the government of Nigeria in 2020.”
“This repatriation brings to the total amount of funds repatriated in this case by the US to more than $334.7m. As a result of Tuesday’s agreement, $23m will be transferred to the Nigerian Government, which through the Nigerian Sovereign Investment Authority, NSIA, will use the funds to continue the construction of three key infrastructural projects located in strategic economic zones throughout the country- The 2nd Niger Bridge, Lagos-Ibadan Expressway and the Abuja-Kano Road,” she said.
According to US Ambassador, the recovered criminal proceeds, like the $311.7m previously seized and repatriated, will be transformed into visible and impactful representation of the possibilities of government assets that directly improve the lives of average Nigerians.
