Presidency: We Won't Breach Agreement on Repatriated $311m Abacha Loot
The newly-repatriated $311 million recovered from the assets of the late Head of State, Gen. Sani Abacha, to Nigeria from the United States would be fully utilised as agreed, the Presidency assured the nation yesterday.
Presidential spokesman, Malam Garba Shehu, in a statement, said parts of the fund would be utilised for the execution of three major capital projects in accordance with federal government’s agreement with the US. “These funds have already been allocated, and will be used in full, for vital and decades-overdue infrastructure development: the Second Niger Bridge, the Lagos-Ibadan and Abuja-Kaduna-Kano expressways – creating tens of thousands of Nigerian construction jobs and local skills, which can then be useful in future projects.
He explained that without the earlier repatriated funds, the ongoing fight against COVID-19 would have been tough.He described the receipt of the funds as an attestation to the stronger relationship between Nigeria and the United States. “The latest return is a testament to the growing and deepening relationship between the government of Nigeria and the government of the United States.
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