US: $311m Repatriated Abacha Loot Distinct from $319m in France, UK
The United States Government has said that the $311 million Abacha loot repatriated to the federal government last week was distinct and separate from an additional $167 million in stolen assets also forfeited in the United Kingdom and France, as well as $152 million still in active litigation in the UK.
It said that Nigeria’s continued vigilance, transparency and accountability would ensure the continued progress in the implementation. It stated: “On May 1, the transfer of $311,797,876 from the United States Government to the Federal Republic of Nigeria was completed in accordance with a February 3, 2020 trilateral agreement among the governments of the United States, Nigeria and the Bailiwick of Jersey to repatriate assets the United States forfeited that were traceable to the former Nigerian dictator Sani Abacha and his co-conspirators.
The US government emphasised that the repatriated funds would be used by the Nigeria Sovereign Investment Authority for three infrastructure projects in strategic economic zones across Nigeria, as authorized by the Nigerian government.
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