Malami said the government was ready to repatriate an
additional $321m (N116.04bn) looted by the late former military Head of State.
The Nigerian Government says it will finance the
construction of Lagos-Ibadan Expressway, Abuja-Kano Expressway, and the Second
Niger Bridge with the funds recovered from former military Head of State, Sani
Abacha, James Ibori, Diezani Allison-Madueke, and Kola Aluko among others.
The Attorney-General
of the Federation and Minister of Justice, Abubakar Malami, said this after the
Federal Executive Council meeting on Wednesday.
Malami said the government was ready to repatriate an
additional $321m (N116.04bn) looted by the late former military Head of State.
He said the MoU expected to be signed next week would also
cover assets or funds recovered from James Ibori, Diezani Allison-Madueke, and
Kola Aluko among others.
He said, “It is in line with that spirit of aggressive
recovery of looted assets that the office of attorney general has been pursuing
the recovery of looted assets. We have overtime been discussing with other
jurisdictions including the Island of Jersey and the United States among the
purpose of the repatriation of looted assets connected to the Abacha family, Diezani Alison-Madueke, Kolawole Aluko among
others.
“It is within this context that we have now come to terms
with this jurisdiction – the Island of Jersey, United States of America and
indeed Nigeria by way of negotiating for the repatriation of sizable assets.
“As it is, we have concluded on the understanding that the sum of $321m will be
repatriated in due course inclusive of James Ibori assets as well.
“So, we are hopeful that by next week, we will sign the
agreement for the looted assets. The assets that are going to be repatriated
are located and in the custody of the Island of Jersey. But the United States
of America came on board because it has obtained an order for forfeiture
against the assets, considering that the medium of exchange used in the looting
the assets is the US dollar. Arising from that, the three jurisdictions will
naturally be factored into the repatriation processes.
“So, the amount upon signing the MoU will be remitted from
the Inland of Jersey within a number of days agreed upon. Within 28 days, the
money will be repatriated from the Island of Jersey to the United States of
America. And thereafter within 45 days, it is agreed by the parties that the
United States of America will make the necessary arrangement for the eventual
repatriation to the Nigerian state.
“This is where we are. The council has looked into the
negotiated MoU that is expected to be signed that will now lay the foundation
for the eventual repatriation of the money. The council has graciously approved
the execution of the agreement. The council instructed the attorney general of
the federation to be a signatory to that MoU in preparation of the repatriation
of the funds.”
When asked about the figure of the amount to be repatriated
attached to each individual mentioned, Malami said, “The immediate figure for
repatriation as relates to the agreement expected to be signed next week is
$321m. The $321m expected to be repatriated is attached to Abacha and is named
Abacha loot.
“As it relates to James Ibori, the expected amount is
€6,863,977.12. But the repatriation of the same is being negotiated and
processed.”
On the sharing agreement, the minister said, “America and
the Island of Jersey are simply entitled to administrative cost, associated
with the management of funds. So, $10m was indeed what was earmarked to the two
countries and the balance of $321m is coming to Nigeria.”
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