The United States government has returned another $20 million to Nigeria as part of the loot traced to Sani Abacha, former Nigerian military leader and his co-conspirators.
In August, the US government signed an agreement with the federal government to repatriate $23 million tagged ‘Abacha-5’.
In a statement on Thursday, the US government said, “this repatriation brings the total amount forfeited and returned by the United States in this case to approximately $332.4 million.”
“In 2014, a judgment was entered in the District of Columbia ordering the forfeiture of approximately $500 million located in accounts around the world, as the result of a civil forfeiture complaint for more than $625 million traceable to money laundering involving the proceeds of general Abacha’s corruption,” the US government said.
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“In 2020, the department repatriated over $311.7 million of the forfeited assets that had been located in the Bailiwick of Jersey. Last year, the U.K. government enforced the U.S. judgment against the additional over $20.6 million.
“Under the agreement signed in August, the United States agreed to transfer 100% of the net forfeited assets to Nigeria to support three critical infrastructure projects in Nigeria that were previously authorised by Nigerian President Muhammadu Buhari and the Nigerian legislature.
“The $20,637,622.27 marks a slight reduction from the $23 million announced in August due primarily to exchange rate fluctuations between British pounds sterling and U.S. dollars.
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“The funds governed by this agreement will help finance the second Niger bridge, the Lagos-Ibadan expressway, and the Abuja-Kano road – investments that will benefit the citizens of each of these important regions in Nigeria.”
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