Abacha Loot: See huge amount FG received from US

Onyxnews Nigeria reports that the Federal government of Nigeria on Monday received huge amount of money of Abacha loot from United state of America.

This reliable online news plaform understands that the total of $311,797,866.11 was returned from the US to Nigeria government.

This was confirmed by the Attorney General of the Federation and Minister of Justice, Abubakar Malami in a statement by his Special Assistant on Media and Public Relations, Dr Umar Jibrilu Gwandu.

He said approximately $311,797,866.11 of the Abacha loot was returned from the US and Bailiwick of Jersey.

Malami said that the amount increased from over $308m to over $311m because of the interest that accrued from February 3, 2020, to 28th April, 2020, when the fund was transferred to the Central Bank of Nigeria.

The Attorney said that the litigation process for the return of these assets titled “Abacha III” commenced in 2014, while the diplomatic process culminated in the signing of the Asset Return Agreement on February 3, 2020, by the governments of Nigeria, the US and Jersey commenced in 2018.

“This agreement is based on international law and cooperation measures that set out the procedures for the repatriation, transfer, disposition and management of the assets,” he said.

In February this year, Onyxnews Nigeria reported that the government of United States had reportedly exposed and against the Buhari-led administration’s plan to hand over $100m out of the recovered Gen Sani Abacha’s loot to an All Progressives Congress member and Governor of Kebbi State, Abubakar Bagudu.

While the U.S. Department of Justice said Bagudu who spent six months in federal detention in Texas while awaiting extradition to the Island of Jersey was involved in corruption with Abacha, Buhari’s administration is insisting there is a 17-year-old agreement which entitles Bagudu to the recovered funds, Bloomberg reports.

Documents made available by the US Department of Justice disclosed that the Governor of Kebbi State who is a close person to President Buhari was handed over to criminal trial in Jersey before he agreed to return $163m to Nigeria. He was subsequently released on bond to Nigeria where he was supposed to be prosecuted for money laundering, but the trial never took place.