More funds looted from the toll of Nigeria will be brought back home soon, Attorney General of the Federation Mr. Abubakar Malami has said.
It is believed that several billions of oars stolen from Nigeria’s treasury by corrupt politicians and businessmen are sashed away abroad, where help to develop their hot economies.
Malami said the Federal Government has intensified negotiations with relevant international agencies and countries to effect the repatriations.
According to him, the looted funds expected include money confiscated from convicted former governor of Delta State, James Ibori; former governor of Bayelsa State, the late DSP Alamieyeseigha, money seized from former Petroleum minister, Diezani Alison-Madueke; and money looted by the late Head of State Gen Sani Abacha from whom several tranches of money had been returned to Nigeria from Switzerland, US and now Jersey Island.
He said the latest Abacha loot being expected from Jersey Island was not the last of the Abacha loot. More will still come, he explained.
Malami explained on Channels TV Politics Today that the recently inked agreement with the U.S. and the Island of Jersey for the repatriation of 318.4 million dollars looted by former Head of State, Gen. Sani Abacha was just one in a series of such efforts to bring home looted funds. The money coming from Jersey Island will hit Nigeria account in the next 45 days, he said.
Malami spoke from Washington where he was part of the Nigerian team that signed the agreement with US and Island of Jersey on modalities for returning the Abacha loot.
According to him the consortium of international lawyers who worked on the Abacha loot repatriation would not receive any commission above 5 percent of the total money. This, he said, was made possible by President Muhammadu Buhari who nullified the former practice of lawyers getting as high as between 25-40 percent of the recovered money.
“Under Buhari, it’s 5 percent or less”, he emphasized.
Mr Ferdinand Nwonye, Spokesperson of the Ministry of Foreign Affairs had earlier in a statement explained that the latest Abacha funds are to be used to fund three major projects, namely, the Lagos-Ibadan Express way, the Abuja – Kano Expressway and the Second Niger Bridge.
He said that the projects will be supervised by the Nigeria Sovereign Investment Authority.
“The Ministry of Foreign Affairs wishes to inform that the Federal Republic of Nigeria, the United States of America and the Island of Jersey today, Feb.3, at the U.S Department of States, Washington DC.
“Signed a tripartite agreement for the repatriation of the sum of 318. 4 million dollars being an amount looted and starched away by former Head of State, Gen. Sani Abacha.
“The agreement which was signed by the Attorney General of the Federation Mr. Abubakar Malami on behalf of the Federal Government of Nigeria, Mr. Mark Temple, Assistant Solicitor General of the Island of Jersey on behalf of the Island.
“And Mr. Kevin Drisioil, Deputy Assistant Attorney General in the US Department of Justice on behalf of the Government of the United States was witnessed by the Honourable Minister of Foreign Affairs, Geoffrey Onyeama.
“And his counterparts from the Ministry of Industry, Trade and Investment; Humanitarian Affairs, Minister of State for Petroleum Resources, the National Security Adviser.
“Permanent Secretary, Ministry of Foreign Affairs, Group Managing Director of NNPC, and the Nigerian Ambassador to the United States of America, among others,” Nwonye stated.
