The Federal Government of Nigeria has recieved a sum of $311m ‘Abacha loot’ repatriated from the United States and the Bailiwick of Jersey.
According to The PUNCH, the Attorney General of Federation and Minister of Justice, Abubakar Malami, disclosed this in a statement issued by his Special Assistant on Media and Public Relations, Dr Umar Jibrilu Gwandu.
Malami also stated that the interest that accrued from February 3, 2020, to 28th April, 2020, when the fund was transferred to the Central Bank of Nigeria, amounted to a significant increase from over $308m which was initially disclosed in a press statement in February, to $311,797,866.11.
He said that the litigation process for the return of the assets titled “Abacha III” commenced in 2014, while the diplomatic process 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.
“This agreement is based on international law and cooperation measures that set out the procedures for the repatriation, transfer, disposition and management of the assets,” he said.
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