The Federal Government, on Monday, confirmed the receipt of $311m looted by the late military dictator, Gen. Sani Abacha.
The Attorney General of Federation and Minister of Justice, Abubakar Malami, in a statement by his Special Assistant on Media and Public Relations, Dr Umar Jibrilu Gwandu, said approximately $311,797,866.11 of the Abacha loot was repatriated from the US and Jersey.
“This agreement is based on international law and cooperation measures that set out the procedures for the repatriation, transfer, disposition and management of the assets,” he said. The minister, who led the negotiation team, noted that the Tripartite Agreement and the process towards the implementation represents a major watershed in International Asset Recovery and Repatriation as it seeks to provide benefit to the victims of corruption.
Malami added that the Federal Government had committed that the assets would support and assist in expediting the construction of three major infrastructure projects across Nigeria, including Lagos-Ibadan Expressway, Abuja-Kano Road, and the Second Niger Bridge.He added that the country was in the process of establishing a Project Monitoring Team to oversee the implementation of the projects and report regularly on progress made to the public.
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