The United States Government has said aside the $311 million Abacha loot returned to the Nigerian government last week, another separate $152 million was still in active litigation in the United Kingdom.
The $152 million cash according to the United States Mission in Nigeria, is distinct and separate from an additional $167 million in stolen assets also forfeited in the United Kingdom and France.
Speaking on the transfer of the funds back to the country, the US Mission on its verified twitter handle, @USEmbassyAbuja on Wednesday, May 6, 2020, explained that the transfer of the fund was an important first step in the disciplined implementation of the agreement between both countries.
The fight against corruption is an investment in the future of Nigeria. Read the Embassy’s statement on Return of Stolen Assets to the Nigerian People: https://t.co/vAcza7mt5G
— U.S. Mission Nigeria (@USinNigeria) May 6, 2020
The US Government in the statement said: “On May 1, 2020, the transfer of $311,797,876 from the United States Government to the Nigerian government was completed in accordance with a February 3, 2020, trilateral agreement among the governments of the United States, Nigeria and the Bailiwick of Jersey to repatriate assets the US forfeited that were traceable to the former Nigerian dictator, General Sani Abacha, and his co-conspirators.
“These funds will be used by the Nigeria Sovereign Investment Authority for three infrastructure projects in strategic economic zones across Nigeria, as authorized by the Nigerian government.
“The recovered funds will help finance the construction of the Second Niger Bridge, the Lagos-Ibadan Expressway, and the Abuja-Kano Road.
These investments will support Nigeria’s economic development and benefit all of the Nigerian people. The agreement includes mechanisms for monitoring the implementation of these projects as well as external oversight.
“The funds returned last week are distinct and separate from an additional $167 million in stolen assets also forfeited in the United Kingdom and France, as well as $152 million still in active litigation in the United Kingdom.”
Source: Vanguard
