Abacha Loot: Federal Government Receives $311Million From United States

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Late Dictator, Gen. Dani Abach and the loot

A sum approximately amounting to $311,797,866.11, of the Abacha loot was on Monday repatriated from the US to the the Federal Government of Nigeria.

The Federal Government, confirmed the receipt of $311m looted by late absolute ruler, Gen. Sani Abacha.

The confirmation was made by the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, on Monday in a statement by his Special Assistant on Media and Public Relations, Dr Umar Gwandu.

Malami said that the loot was repatriated from the United States and the Bailiwick of Jersey.

He said the amount increased significantly from over $308m mentioned in an earlier statement in February to over $311m as a result of the interest that accrued from February 3 to April 28, when the fund was transferred to the Central Bank of Nigeria.

Malami said the legal process to have the money returned to Nigeria began in 2014 while the diplomatic process which led to the signing of the agreement on February 3, 2020 by the governments of Nigeria, United States, and the Bailiwick of Jersey, started in 2018.

Said he: “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”.

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