A deal has been reached between Nigeria and the US government on the return of more than $23 million in Abacha loot.
The agreement was signed on Tuesday, August 23, at the office of Mr. Abubakar Malami, Minister of Justice and Attorney General of the Federation.
While Mary Beth Leonard, the US ambassador to Nigeria, signed on behalf of the US government, Mr. Malami did so on behalf of the Nigerian government.
When the Abacha Loot is returned, the Federal Government will put it toward three active projects, including the 2nd Niger Bridge and the continuing Abuja-Kaduna road.
The AGF, Malami, SAN, said decision to return the stolen loot which he tagged as Abacha-5, was a product of series of negotiations and meetings between Nigeria, the US Department of Justice and the UK National Crime Agency, NCA.
It is worthy to note that in line with the terms of this Agreement, Mr. President had already approved the funds to be utilized for the ongoing Presidential Development Infrastructural Funds, PIDF, projects namely; Abuja-Kano Road, Lagos-Ibadan Express Way and the Second Niger Bridge under the supervision of Nigerian Sovereign Investment Authority, NSIA.
The President’s mandate to my office is to ensure that all international recoveries are transparently invested and monitored by civil society organization to compete these three projects within the agreed timeline.
