26 C
Lagos
Wednesday, November 25, 2020

Nigerian Government Receives $311m Abacha Loot from United States

Must Read

President Buhari Endorses Osagie Ize-Iyamu As APC Candidate For Edo Election

President Muhammadu Buhari has endorsed Pastor Osagie Ize-Iyamu as the candidate of the All Progressives Congress (APC)...

Kwara gov’s wife offers to help Risikat, abandoned blue-eyed mom, daughters

Olufolake Abdulrazaq, the wife of Kwara State Governor, has offered to help the blue-eyed Kwara mom who was...

ShopRite is Leaving Nigeria – Rumor Debunked

The "ShopRite is Leaving Nigeria" rumor which has been making rounds has been debunked by the grocery...

Update: Lagos to reopen worship centres on August 7

The Lagos State governor, Babajide Sanwo-Olu, has announced the reopening of worship centres in the state from...

‘We just didn’t perform’ – Lampard laments ‘complacent’ Chelsea’s FA Cup final defeat to Arsenal

Frank Lampard admitted that his Chelsea charges were not up to the task at Wembley as they threw away...

The Nigerian Government has confirmed the receipt of $311m looted by late military dictator, General Sani Abacha.

Attorney-General of the Federation and Minister of Justice, Abubakar Malami, confirmed this on Monday in a statement by his Special Assistant on Media and Public Relations, Dr Umar Gwandu.

Abubakar Malami said that the loot was repatriated from the United States and the Bailiwick of Jersey.

He said the amount increased significantly from over $308m mentioned in an earlier statement in February to over $311m as a result of the interest that accrued from February 3 to April 28, when the fund was transferred to the Central Bank of Nigeria.

Malami said the legal process to have the money returned to Nigeria began in 2014 while the diplomatic process which led to the signing of the agreement on February 3, 2020 by the governments of Nigeria, United States, and the Bailiwick of Jersey, started in 2018.

He said, “This agreement is based on international law and cooperation measures that set out the procedures for the repatriation, transfer, disposition and management of the assets.”

Isaac Nwanze
Reporter, PapercodePost
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

President Buhari Endorses Osagie Ize-Iyamu As APC Candidate For Edo Election

President Muhammadu Buhari has endorsed Pastor Osagie Ize-Iyamu as the candidate of the All Progressives Congress (APC)...

Kwara gov’s wife offers to help Risikat, abandoned blue-eyed mom, daughters

Olufolake Abdulrazaq, the wife of Kwara State Governor, has offered to help the blue-eyed Kwara mom who was abandoned by her husband after...

ShopRite is Leaving Nigeria – Rumor Debunked

The "ShopRite is Leaving Nigeria" rumor which has been making rounds has been debunked by the grocery retailer giant.

Update: Lagos to reopen worship centres on August 7

The Lagos State governor, Babajide Sanwo-Olu, has announced the reopening of worship centres in the state from August 7 at 50% capacity.

‘We just didn’t perform’ – Lampard laments ‘complacent’ Chelsea’s FA Cup final defeat to Arsenal

Frank Lampard admitted that his Chelsea charges were not up to the task at Wembley as they threw away a winning position to lose...
- Advertisement -

More Articles Like This

- Advertisement -