The United States (US) government, on Tuesday signed an agreement with the federal government to repatriate $23,439,724 looted by former military head of state, General Sani Abacha.
The agreement was signed at the office of the Minister of Justice and the Attorney-general of the Federation(AGF), Abubakar Malami.
During the ceremonial signing of assest return agreement, the US government was represented by its Ambassador to Nigeria, Mary Beth Leonard.
In his address, Malami said the development was as a result of product of a series of negotiations and meetings between Nigeria, the US department of justice and the UK National Crime Agency.
The Minister added that the recovered money will be expended on the completion of the Abuja-Kano road; the Lagos-Ibadan expressway and the Second Niger Bridge.
“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 expressway 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,” he stated.
Speaking at the signing ceremony, Leonard, noted that the latest repatriation brings the total amount of funds repatriated from Abacha loot by the US to more than $334.7 million.
In his words, “The US department of justice and the FBI seized these funds in response to General Abacha and his associates’ violation of US laws when they laundered these assets to the US and into accounts in the UK.
“These actions were a flagrant breach of the Nigerian people’s trust. But today is the result of an extensive and high level corporation between the US, UK and the federal republic of Nigeria to make the Nigerian people whole.
“This agreement is also a kind of collaboration that our government must continue in order to right the wrongs committed under the previous regimes.
“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 the total amount of funds repatriated in this case by the US to more than $334.7 million.”
