CEM REPORT | The Federal Government of Nigeria and the United States Government have signed an agreement to repatriate $23, 439, 724 allegedly looted by the late former military Head of State, General Sani Abacha.
The agreement which was signed by the Minister of Justice and Attorney General of the Federation (AGF), Abubakar Malami on behalf of Nigeria and the U.S Ambassador to Nigeria, Mary Beth Leonard on behalf of the U.S government, took place on Tuesday at the office of the AGF.
According to reports reaching CEM, the repatriated funds will be used to finance three ongoing projects by the Federal Government, including the ongoing Abuja-Kaduna road and the 2nd Niger Bridge.
Recall that the Abacha loot was first repatriated in 2006 when about $723 million was returned to Nigeria from Switzerland.
In 2020, the US and Jersey also agreed to return over $308 million in confiscated funds to Nigeria.
The Abacha loot, are proceeds believed to have been diverted from public coffers by the military administration of General Sani Abacha in the 1990s.