Tobi Aworinde, Abuja The Federal Government, on Monday, confirmed the receipt of $311m looted by the late military dictator, Gen.
Sani Abacha, and repatriated from the United States and the Bailiwick of Jersey.
The AGF noted that the litigation process for the return of these assets titled “Abacha III” commenced in 2014, while the diplomatic process that culminated in the signing of the Asset Return Agreement on February 3, 2020 by the governments of Nigeria, the US and Jersey commenced in 2018. He said, “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 14 days. The NSIA is responsible for the management and execution of the projects to which the funds will be applied.”
The statement said, “To ensure transparent management of the returned assets, the Nigerian government will also engage a civil society organisation, who has combined expertise in substantial infrastructure projects, civil engineering, anti-corruption compliance, anti-human trafficking compliance, and procurement to provide additional monitoring and oversight.”
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FG receives $311m Abacha loot from US, JerseyWe are a quality, national, newspaper with credible and dependable information.
Read more »
FG receives 3rd tranche of $311m Abacha loot from US – Daily TrustThe Attorney-General of the Federation and Minister of Justice, Abubakar Malami...$311 million as third tranche of General Sani Abacha loot...
Read more »
Nigeria Receives $311m Abacha Loot Repatriated from US, Jersey - THISDAYLIVEAlex Enumah Abuja The federal government on Monday confirmed the receipt of approximately three hundred and eleven million, seven hundred and ninety-seven thousand, eight hundred and sixty-six dollars and eleven cents ($311,797,866.11) of the Abacha assets repatriated from the United States of America and the Bailiwick of Jersey. Attorney-General of the Federation (AGF) and Minister …
Read more »
BREAKING: FG receives $311m Abacha loot
Read more »
UPDATED: FG gets $311m Abacha loot - The Nation NigeriaThe Federal Government has received $311m looted by late Head of States, Gen. Sani Abacha.It said the loot was repatriated from the..
Read more »