The United States has stated that the $308m Abacha loot which will soon be repatriated to Nigeria must be placed in an account and if the money is stolen from that account, Nigeria would be made to replace it.

The Spokesperson for the US State Department, Morgan Ortagus, said in a statement that this was one of the agreements that was made between the US, Nigeria and the Island of Jersey where the funds are being kept.

The statement read in part, “The funds will be used by the Nigerian Independent Sovereign Authority for three infrastructure projects in strategic economic zones across Nigeria.

“To ensure that the funds are used responsibly and for the good of the nation, the agreement includes mechanisms for monitoring the implementation of these projects as well as external oversight, and it requires Nigeria to repay any funds lost as a result of any new corruption or fraud to the account established to hold the returned assets.

“This return reflects the growing international consensus that countries must work together to ensure stolen assets are returned in a transparent and accountable manner.”

The US said the arrangement was consistent with the commitments both the US and Nigeria made under the principles agreed to at the 2017 Global Forum on Asset Recovery co-hosted by the US and the United Kingdom.

“This agreement is a symbol of the weight that the United States government places on the fight against corruption. We welcome President Buhari’s personal commitment to that fight, and we will continue to support civil society and other Nigerian efforts to combat corruption at all levels. The fight against corruption is an investment in the future of Nigeria,” the statement read.

Gen. Sani Abacha, who ruled Nigeria with an iron fist between 1993 and 1998, is believed to have diverted over $4bn from the nation’s treasury.

However, there have been rumours that the funds have not been properly managed by successive governments.

Tonyfx:
Story must enter the matter na abi nor be naija again

BabaOwen:
dem no go fit try am

Bigflamie:
Its very shameful that another country will bring such conditions before repatriating our own money, that just shows that they don't trust the dullard's claim on fighting corruption.

The United States has stated that the $308m Abacha loot which will soon be repatriated to Nigeria must be placed in an account and if the money is stolen from that account, Nigeria would be made to replace it.

GenBuhari:
Imagine! How can a thief be giving conditions to owner before returning owners property?

Maxymilliano:


Just look at the manner the United States is addressing the giant of Africa like we are some wayward college kids

TheFreeOne:


Really?

So what should we call Abacha that looted the funds? And hope you are aware Buhari told Nigerians that Abacha never stole but same man is the one repatriating loots stashed across the globe by the late dark-goggled general.

Enwhen:

It doubt this , it can be true, but if it is....chaii



IT IS A BIG DISGRACE , that US is now the one monitoring our fund because they know that President Buhari and out leaders will STEAL again .....



Thank u US, STEAL AGAIN AND PAY, UNTIL THE MONEY IS USED RIGHTLY, GOD BLESS AMERICA

GenBuhari:
Abacha never looted.

America is a thief who is giving us conditions for return of phantom audio "Abacha Loot"They keep disturbing us with endless anti- Abacha propaganda, to distract us from the over $1trn of our money illegally acquired by them and other white supremacist western nation allies.

TheFreeOne:


Even Buhari won't make such unguarded statement again.

Bros go have your bath, eat dinner and sleep so that you'll be rejuvenated to make sense.

Righteousness89:
Dear USA,

If you guys don't Closely monitor these funds, they will disappear and might even get into the Hands of Bandits and Terrorist!

Bigflamie:
Its very shameful that another country will bring such conditions before repatriating our own money, it shows they don't trust the dullard's claim on fighting corruption.