The federal government and Ireland have signed a memorandum of understanding to return €5.5 million looted by Sani Abacha, a former Nigerian Head of State.
Ireland's minister
of justice and equality, Helen McEntee in her statement said it followed an
order recently issued by a court in Ireland regarding the funds.
The return of the
asset found in a Dublin based bank account will be the first time the European
nation has taken such action.
McEntee said;
“I am very pleased
to sign this Memorandum of Understanding between Ireland and Nigeria. This
represents the culmination of a long process which began with an
internationally led investigation.
“The Criminal Assets
Bureau took part in this international operation which led to the freezing of
over $1 billion in funds worldwide, of which approximately €5.5 million was
identified in a Dublin based bank account.
“The return of these
assets will be the first time that Ireland has taken such action and will be a
concrete demonstration of Ireland’s commitment to international cooperation in
the fight against corruption and to assisting countries which have been
adversely affected by corruption in the past, and is in line with our
international obligations as a signatory to the UN Convention Against
Corruption.
“It demonstrates the
intent of both States to uphold our shared values and our international
obligations to eliminate corruption.”
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