The United States government has signed an agreement with the federal government to repatriate $23 million Abacha loot to Nigeria.
The agreement was signed on Tuesday at the office of Abubakar Malami, Minister of Justice and Attorney-General of the federation.
Malami, 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.
The National Crime Agency (NCA) announced in May that it recovered $23,439,724.98 that was smuggled out of Nigeria by associates and family members of former Nigerian Head of State, General Sani Abacha, in the 1990s.
Abacha ruled Nigeria from 1993 until his death on June 8, 1998.
The NCA, a British law enforcement agency, is the UK’s principal institution in the fight against organised crime, human, weapon and drug trafficking, cybercrime as well as cross-border economic crime.
The money was part of a larger pool of funds identified by the US Department of Justice (DOJ) as having been plundered by Abacha and his accomplices, it reported on its website.
The NCA said it conducted nearly seven years of litigation and international negotiations on behalf of the DOJ to secure the recovery order and to enforce the US forfeiture order relating to the recovered funds.
More details soon…