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Nigeria to recover another looted $200m kept abroad – Malami

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Abubakar Malami

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, said on Tuesday Nigeria would soon recover another $200million stashed abroad by corrupt public officials.

The minister, according to a statement issued by his Special Assistant on Media and Public Relations, Umar Gwandu, stated this at the 2021 annual public lecture organized by the Centre for Media and Peace Initiative, New York, United States.

He, however, said the repatriation of the looted fund is subject to the settlement of litigations by the ministry.

He stressed that the successes recorded by President Muhammadu Buhari in asset recovery could be a template for other African countries in the fight against corruption.

Malami said: “Various steps have been taken in terms of legislative frameworks, the establishment of institutions and policy measures targeted at combating corruption, regional corporation and ensuring good governance for the benefit of the citizens.

READ ALSO: Ireland, Nigeria agree on repatriation of €5.5m Abacha loot

“In 2017, the signing of a trilateral agreement with Switzerland and World Bank enabled the recovery of $322.515million.

“In 2020 a total sum of $311.7million was returned to Nigeria after signing another trilateral agreement with the US and Bailiwick of Jersey.

“Also in the year 2020, 5.4million Euros was recovered in March emanating from an agreement signed with Northern Island. The Federal Government was able to recover from the United Kingdom the sum of €4,214,017.66 connected to the family of James Ibori.

“Additional recoveries to the tune of $200million are being anticipated subject to the settlement of litigations of which the Ministry of Justice is attending to presently.

“The Buhari’s approach to fight against corruption has been one of three cardinal pillars of our campaign promises, the others are economic and security development.”

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