US Returns Another $20M Abacha Loot to Nigeria, Asks FG To Use It To Fund These Projects

The United States has returned over $20.6 million linked to the late General Sani Abacha to the federal government

According to the US, the money was transferred in accordance with an August 23 agreement between both countries.

The US said the funds will help finance the Second Niger Bridge, the Lagos-Ibadan Expressway, and the Abuja-Kano road

In what will come as good news to Nigerian government, the United States Department of Justice says it had transferred over $20.6m to the federal government.

The US said this is done in accordance with an August 23 agreement between the governments to repatriate assets stolen by late dictator General Sani Abacha and his co-conspirators.

According to a statement published on the DoJ website on Thursday, November 17, the repatriation brings the total amount forfeited and returned by the US in this case to approximately $332.4m.

U.S returns another $20m Abacha loot to Nigeria. Photo credit: Remember Nigeria

Source: UGC

In 2020, the department repatriated over $311.7m of the forfeited assets that had been located in the Bailiwick of Jersey.

Last year, the United Kingdom enforced the US judgment against the additional $20.6m.

The statement read:

‘’The United Kingdom’s cooperation in the investigation, restraint, and enforcement of the US judgment, along with the valuable contributions of Nigeria and other law enforcement partners around the world, including the United Kingdom’s National Crime Agency, as well as those of the Justice Department’s Office of International Affairs, have been instrumental to the recovery of these funds.

‘’Under the agreement signed in August, the US agreed to transfer 100 per cent of the net forfeited assets to Nigeria to support three critical infrastructure projects in Nigeria that were previously authorised by President Muhammadu Buhari and the Nigerian legislature.

‘’The $20,637,622.27 marks a slight reduction from the $23m announced in August due primarily to exchange rate fluctuations between British pounds sterling and US dollars. 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."

Abacha loot: I think he tried to keep this money away from thieving hands, 2baba says, sparks reactions

Meanwhile, singer 2baba Idibia has caught the attention of Nigerians in the online community after sharing a fresh and personal perspective as it regards the late Sani Abacha.

The veteran entertainer recently took to his Instastory channel with a submission in which he made an attempt to give reasons for Abacha’s notorious looting during his regime as head of state.

For 2baba, if Abacha had the genuine intent of stealing funds, then it would have been almost impossible for anyone to recover the stolen funds. According to him, Abacha probably stole money all in a bid to protect it from the thieving nature of those in power.