THE Federal Government of Nigeria and the government of the United States of America (USA) inked an agreement on Tuesday for the return of $23 million in assets plundered by late President General Sani Abacha.
While the Attorney General of the Federation (AGF), Abubakar Malami, signed on behalf of the Federal Government, the US Embassy in Nigeria, Ambassador Mary Beth Leonard, signed on behalf of the US government.
The AGF stated shortly before signing the agreement that his ministry, the United Kingdom National Crime Agency (UK NCA), and the United States Department of Justice (USDOJ) have been working closely with the Federal Government’s legal representatives since 2016 to finalize litigations related to the Abacha linked assets.
Following the parties’ agreement, Malami stated that the UK High Court issued the NCA a registration and recovery order on July 21, 2021, which the court sealed on August 4, 2021.
“The forfeited Mecosta/Sani assets were then transferred to the NCA, which held the sum of $23,439,724 on February 7, 2022, awaiting the implementation of the asset return agreement between the FRN and the USA,” he stated.
President Muhammadu Buhari approved the use of the funds for the on-going presidential development infrastructural funds (PIDF) projects, which include the Abuja-Kano road, the Lagos-Ibadan expressway, and the second Niger Bridge, which are being supervised by the Nigerian Sovereign Investment Authority, in accordance with the agreement, which was a result of the cooperation of the UK NCA, USDOJ (NSIA).
“The president’s mission to my office is to guarantee that all foreign recoveries are publicly invested and monitored by civil society organizations so that these three projects may be completed within the agreed schedule,” Malami added.
