Politics

Nigeria may lose $300m Abacha loot

Nigeria may lose $300m Abacha loot

The government of Jersey Island has insisted that the Abacha loot would not be released to Nigeria if a third party representation is brought into the picture.

The Honourable Minister and Attorney General of Jersey Island, Robert J. MacRae QC disclosed this on Tuesday, during the on going 7th Session of Conference of State Parties to the United Nations Convention Against Corruption, holding in Vienna, Austria.

MacRae spoke at a side meeting with the Nigerian delegation led by acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu.

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The Jersey Attorney General expressly stated that negotiations in respect of repatriation of the USD300 million being part of the Abacha loot between Nigeria and Jersey Island involving the United States of America, USA, “must be government to government cooperation”.

It would be recalled that the Attorney General of the Federation and Minister of Justice, Abubakar Malami, had stated last month, that negotiation with Switzerland on the return of $321 million recovered from the late Abacha family had been concluded.

Mr. Malami stated this in his opening remarks at the Pre-Global Forum on Asset Recovery, GFAR, Consultative meeting with the theme: Building an Ending Framework for Asset Recovery in Nigeria held in Abuja.

He said that with the conclusion of negotiation, a Memorandum of Understanding will be signed by parties at the Global Forum on Assets Recovery meeting coming up on December 4 to 6 in Washington and that the repatriation would follow within weeks as agreed by the parties.

 

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