The United States government has announced the repatriation of $20.6 million to the Federal Government of Nigeria as part of the loot traced to former Nigerian military leader General Sani Abacha and his co-conspirators.
The United States Department of Justice made this announcement in a statement via its website on Thursday.
According to the statement, the repatriation brings the total amount forfeited and returned by the US in this case to approximately $332.4 million.
The statement reads, “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.
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“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.
“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.
“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 of each of these important regions in Nigeria.”