UPDATED: FG gets $311m Abacha loot
The Attorney-General of Federation and Minister of Justice, Abubakar Malami said the Federal Government has received $311,797,866.11 assets of a former Head of State, Gen. Sani Abacha, which have been repatriated from the United States and the Bailiwick of Jersey.
over $311million because of the interest that accrued from 3rd February, 2020 to 28th April, 2020 when the fund was transferred to the Central Bank of Nigeria. “The recovery effort further consolidates on the established record of the administration of president Muhammadu Buhari-led Federal Government which has a history of recovery of $322m from Switzerland
“In line with the 2020 Asset Return Agreement, the fund has been transferred to a Central Bank of Nigeria Asset Recovery designated account and would be paid to the National Sovereign Investment Authority within the next fourteen days. The NSIA is responsible for the management and execution of the projects to which the funds will be applied.
“In 2014, a U.S. Federal Court in Washington D.C. forfeited the money as property involved in the illicit laundering of the proceeds of corruption arising in Nigeria during the period from 1993 to 1998 when General Abacha was Head of State. In 2017, the FRN filed a case in the Bailiwick of Jersey to assert its authority as the owner of these funds and as the victim of the action of General Abacha.
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