By Bukola Olasanmi
The United States government says Nigeria has received a total of $332.4 million as part of the loot traced to General Sani Abacha, former Nigerian military leader and his co-conspirators.
Washington made this known in a statement confirming the release of additional $20 million Abacha loot to Nigeria recently.
According to the US government “this repatriation brings the total amount forfeited and returned by the United States in this case to approximately $332.4 million.
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Recall that the Nigerian government entered into an agreement with Washington in August for the US to repatriate $23 million tagged ‘Abacha-5’.
In the statement, the US government said, “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.
“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.
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“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.”