The United States (US) government has signed an agreement with the Nigerian government to repatriate $23million in loot belonging to the former dictator, General Sani Abacha that was stashed in the foreign land. The agreement tagged ‘the Abacha-5’according to the Minister of Justice, Abubakar Malami was signed today after a series of negotiations with the American government. Malami said the Nigerian government and the US Department of justice have had a series of meetings targeting the recovery of the Nigerian Money stashed by the former dictator all over Europe and America during his reign as the head of state.
He said the money when received will be used to fund the remaining Abuja-Kano, Lagos-Ibadan Expressway, and the remaining part of the second Niger Bridge.
In his statement, the Attorney General said, “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 expressway and the second Niger bridge under the supervision of Nigerian Sovereign Investment Authority (NSIA),”.
He explained that President Buhari has mandated his office to ensure that all international recoveries are transparently invested and monitored by civil society organizations to compete for these three projects within the agreed timeline.
The US Ambassador to Nigeria, Mary Leonard during the signing of the agreement said, “The US department of justice and the FBI seized these funds in response to General Abacha and his associates’ violation of US laws when they laundered these assets to the US and into accounts in the UK.
She noted that “These actions were a flagrant breach of the Nigerian people’s trust. But today is the result of an extensive and high-level corporation between the US, UK, and the federal republic of Nigeria to make the Nigerian people whole.
“This agreement is also a kind of collaboration that our government must continue in order to right the wrongs committed under the previous regimes.
“Combined with a $311.7m seized and repatriated with the assistance of the Bailiwick of Jersey and the government of Nigeria in 2020, this repatriation brings the total amount of funds repatriated in this case by the US to more than $334.7 million” she recalled.
She reiterated that the agreement was for the Nigerian government to use the fund for the development of infrastructure in the country.
According to Leonard, with the former repatriated amount and this one, the money should be channeled into infrastructure that all Nigerians should benefit.
She revealed the US is aware of the devastating corruption that seems to eat up everything in the African countries, saying it denies the citizenry the dividend of democracy and at the same time erodes trust between the leaders and the electorates.
She added, “It distorts the economies and access to key services. It hinders development, pushes citizens towards extremism, and makes countries and their officials susceptible to malicious foreign interference.
She explained that it is in the spirit of defending democracy that the United State has taken it upon itself to place corruption in its national security interest and will stop at nothing to ensure those who partake in it are not spared.
She assured the Nigerian Government that the US will ensure it denies all corrupt officials a safe haven for them and their loot.
