Malam Reveals That Nigeria Is Set To Receive $318m Abacha Loot From The United States of America
The money is expected to be used on three major projects; the Lagos-Ibadan Expressway, the Abuja – Kano Expressway, and the Second Niger Bridge
The Attorney General of the Federation, Mr Abubakar Malami, on Wednesday said the Federal Government will receive the sum of $318,460,329 looted and stashed away by former Head of State, Gen. Sani Abacha, from the United States of America within 72 days.
Malami, who is also the minister of justice, made this known on Channels Television Politics Today in a telephone interview.
Malami on Tuesday had signed a tripartite agreement on behalf of the Federal Government with the United States of America and the Island of Jersey to repatriate the funds.
Malami said, “Every other thing is set and fully consummated in terms of the agreement amongst the entrusted parties – the Island of Jersey, United States of America and the Federal Government of Nigeria. The agreement has been signed and executed and we are looking forward towards the repatriation of the looted money.
When asked how fast the money would come, the minister said, “The money as it is, is in the custody of Island of Jersey where it was deposited.
“So that brings about the parties of interest to be the Island of Jersey where the money was stashed, the USA which initiated the judicial process for the repatriation of the money and Nigeria which is indeed the victim; so the common agreement that was reached is that within 27 days, the money will leave the custody of Island of Jersey down to the USA and within 45 days the money will be repatriated to Nigeria.
“We are looking at around 72 days from Tuesday when the tripartite agreement was signed and executed by the party.”
The money is expected to be used on three major projects; the Lagos-Ibadan Expressway, the Abuja – Kano Expressway, and the Second Niger Bridge.