US returns another $20m Abacha loot to Nigeria

The United States has returned another $20.6million recovered from the family of the late dictator, Gen. Sani Abacha, to the Federal Government.

The US Department of Justice confirmed the development in a statement posted on its website on Thursday.

The development, according to the statement, followed an agreement on the repatriation of assets stolen by the former military ruler and his conspirators signed by the two countries on August 23.

Washington had in 2020 repatriated $311.7m of the forfeited assets to Nigeria.

The latest repatriation, therefore, brought the total amount of money returned by the US since the recovery efforts began a few years ago to $332.4million.

The statement read: “The United Kingdom’s cooperation in the investigation, restraint, and enforcement of the US judgment, along with the valuable contributions of Nigeria and other law enforcement partners around the world, including the United Kingdom’s National Crime Agency, as well as those of the Justice Department’s Office of International Affairs, have been instrumental to the recovery of these funds.

READ ALSO: Buhari seeks return of stolen assets from abroad, says Abacha alone stole $5bn

“Under the agreement signed in August, the US agreed to transfer 100 percent of the net forfeited assets to Nigeria to support three critical infrastructure projects in Nigeria that were previously authorised by Nigerian President, Muhammadu Buhari, and the Nigerian legislature.

“The $20,637,622.27 marks a slight reduction from the $23million announced in August due primarily to exchange rate fluctuations between British pounds sterling and US dollars. The funds governed by this agreement will help finance the Second Niger Bridge, the Lagos-Ibadan Expressway, and the Abuja-Kano road – investments that will benefit the citizens.”

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