Another Abacha’s loot of $152m under Ligation in the UK

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The United State Government has said another separate $152 million is still in active litigation in the United Kingdom, aside from the $311 million Abacha loot returned to the Nigerian government last week.

According to the United States Mission in Nigeria, the $152 million cash is distinct and separate from an additional $167 million in stolen assets also forfeited in the United Kingdom and France.

The US Mission explained the transfer of the funds back to the country via its verified twitter handle, @USEmbassyAbuja, that the transfer of funds is an essential foremost step in the disciplined implementation of the agreement between both countries.

The US Government in the statement said: “On May 1, the transfer of $311,797,876 from the United States Government to the Federal Republic of Nigeria was completed per a February 3, 2020, trilateral agreement among the governments of the United States, Nigeria and the Bailiwick of Jersey to repatriate assets the United States forfeited that were traceable to the former Nigerian dictator Sani Abacha and his co-conspirators.”

These funds will be used by the Nigeria Sovereign Investment Authority for three infrastructure projects in strategic economic zones across Nigeria, namely, the Second Niger Bridge, the Lagos-Ibadan Expressway and the Abuja-Kano road as authorized by the Nigerian government.

These investments will support Nigeria’s economic development, benefiting every Nigerian. The agreement also includes mechanisms for monitoring the implementation of these projects as well as external oversight.

In clarification, the funds returned last week are distinct and separate from an additional $167 million in stolen assets also forfeited in the United Kingdom and France, as well as $152 million still in active litigation in the United Kingdom.

Reported by: Fatimah Oyesanmi