The Federal Government has signed an agreement with the United States of America for the repatriation of the sum of $23 million funds looted by Late General Sani Abacha and his counterparts.
The Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), signed the agreement on behalf of the Federal Government, while the US Ambassador to Nigeria, Mary Beth Leonard, signed for the government of the United States.
Malami, in his speech shortly before signing the agreement, on Tuesday, said the recovered assets, which were made possible with the cooperation of the governments of United States and United Kingdom would be used in the infrastructural development of the country.
He said, “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.”
Also speaking at the signing ceremony, Mary Leonard, US ambassador to Nigeria, said, “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.
“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,” she said.