Abacha Loot | FG Set to Repatriate Fresh $321m

The Federal Government is set to repatriate another $321million Abacha loot in a tripartite understanding between the Island of Jersey, the United States of America and Nigeria.

The agreement on the repatriation will be signed next week. This decision was taken at Wednesday’s Federal Executive Council meeting presided over by President Muhammadu Buhari.

President Buhari on January 29th, 2020, presided over the Federal Executive Council (FEC) meeting, at the Council Chambers, State House, Abuja. It’s the first FEC Meeting in 2020.

The Attorney-General of the Federation and Minister of Justice, Mr.Abubakar Malami, spoke on the outcome of the meeting on the Abacha loot.

He said based on the Memorandum of Understanding reached by the three parties, the money would be spent on the Lagos-Ibadan Expressway, the 2nd Niger Bridge and the Kaduna-Kano Expressway.

Malami added that a separate Euro 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 the Ibori loot.

Read this too | “Order EFCC to Release My $40m Jewelry”- Diezani Alison-Madueke Tells Lagos Court.

He also said discussions would soon start on looted assets linked to a former Minister of Petroleum Resources, Mrs Dezieni Alison-Madueke. However, the AGF explained that no figure had been placed on the Alison-Madueke asset.

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