The Federal Government of Nigeria has announced that it has signed an agreement with the United States for the repatriation of the sum of $23 million, in assets allegedly looted by past leaders of Nigeria, including late General Sani Abacha.
Africa Daily Newsthat the Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), signed the agreement on behalf of the Federal Government, while the US Ambassador to Nigeria, Mary Beth Leonard, signed for the United States government.
Read Also: UK Recovers $23 Million Fresh Abacha Loot
The AGF, in his speech shortly before signing the agreement, said the recovered assets, which were made possible with the cooperation of the governments of United States and United Kingdom would be used in the infrastructural development of the country.
According to him, efforts were being intensified for the recovery and repatriation of more of the looted assets.
Abacha ruled Africa’s most populous nation and top oil exporter from 1993 until his death in 1998, a period during which he stole up to $5 billion of public money, according to Transparency International. He was never charged.
The money recovered in Britain forms part of a larger pool of funds identified by the U.S.
Department of Justice (DOJ) as having been misappropriated by Abacha and his associates, the NCA said in a statement.
Police say about 100 billion pounds ($123 billion) of dirty cash moves through or into Britain every year, buying everything from luxury homes to whole companies.
Leaked troves of financial documents such as the Panama, Paradise and Pandora Papers have documented London’s role as a global money-laundering hub.
