The Federal Government, the United States of America and the Island of Jersey-a British enclave, have signed an agreement to help repatriate over $318 million funds allegedly looted by late former Head of State, Sani Abacha, back to Nigeria.
This was made known at the ongoing 5th Session of the US-Nigeria Binational Commission, BNC, holding at the US Department of State in Washington DC, the United States of America, as part of measures to deepen the war against corruption and asset recovery to Nigeria.
The Minister of Foreign Affairs Geoffrey Onyeama, who led the Nigerian delegation to the session, said legal processes were ongoing to bring back the looted assets, even as he recalled that a similar process in 2018 led to the recovery and repatriation of $322 million allegedly stashed away by the late Head of State.
Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, signed the tripartite agreement on behalf of Nigeria. They told newsmen in an interview that the pact would hasten the return of the loot back to Nigeria, stressing that the funds would be invested in infrastructure development in the country.
“By the agreement of the parties, the looted assets will be deployed into the construction of roads, including the Abuja -Kano Expressway, Lagos-Ibadan Expressway and indeed the Second Niger Bridge,” Malami said.
“It is a clear demonstration of the accountability and transparency of President Muhammadu Buhari’s government. It’s a clear demonstration that the international confidence is further restored dealing with Nigeria as it relates with transparency and accountability, taking into consideration that before now in 2018, we have recovered $322 million from Switzerland on the understanding that the funds should be deployed to social investment programme for which it was targeted,” he added.
The US Secretary of State, Mich Pompeo has during a press statement with Geoffrey Onyeama stated that the US will continue to support the Nigerian government in the war against corruption and fight against terrorism. He disclosed that the US will be giving $40 million as a humanitarian assistance to Nigeria adding to the newly $350 million made last year.