The Nigerian government has received $311,797,866.11 recovered assets of General Sani Abacha repatriated from the United States and the Bailiwick of Jersey.






The Attorney-General of Federation and Minister of Justice, Abubakar Malami, confirmed this on Monday in a statement by the Special Assistant on Media and Public Relations at his office, Dr Umar Gwandu.

According to Malami, the amount increased significantly from over $308 million mentioned in an earlier statement in February to over $311million as a result of the interest that accrued from February 3 to April 28, when the fund was transferred to the Central Bank of Nigeria (CBN).
He noted that the litigation process for the return of the assets titled ‘Abacha III’ commenced in 2014 while the diplomatic process that culminated in the signing of the Asset Return Agreement commenced in 2018.
The agreement was signed on February 3 by the governments of Nigeria, the United States, and the Bailiwick of Jersey.

“This Agreement is based on international law and cooperation measures, that sets out the procedures for the repatriation, transfer, disposition, and management of the assets,” he said.
According to the statement, the recovery effort consolidates on the record of the Muhammadu Buhari administration which has a history of recovery of $322m from Switzerland in 2018.
It added that the recovered loots were transparently and judiciously deployed in supporting indigent Nigerians as specified in the agreement signed with Switzerland and the World Bank.

Malami, who led the negotiation team, noted that the tripartite agreement and the process towards the implementation represented a major watershed in International Asset Recovery and Repatriation as it sought to provide benefit to the victims of corruption.
He said, “In line with the 2020 Asset Return Agreement, the fund has been transferred to a Central Bank of Nigeria Asset Recovery designated account and would be paid to the National Sovereign Investment Authority (NSIA) within the next fourteen days.
“The NSIA is responsible for the management and execution of the projects to which the funds will be applied.”

The minister insisted that the latest recovery would support and assist in expediting the construction of three major infrastructure projects across Nigeria – Lagos – Ibadan Expressway, Abuja – Kano Road, and the Second Niger Bridge.
He revealed that the government was in the process of establishing a Project Monitoring Team to oversee the implementation of the projects and report regularly on progress made to the public.
In order to ensure transparent management of the returned assets, Malami said the government would engage a Civil Society Organisation who has combined expertise in substantial infrastructure projects, civil engineering, anti-corruption compliance, anti-human trafficking compliance, and procurement to provide additional monitoring and oversight.

He noted that the process for the engagement of the CSO monitor has already commenced with the adverts placed in two local newspapers.
The recovered funds, according to the minister, were laundered through the U.S. banking system and then held in bank accounts in the Bailiwick of Jersey.

Read more at: https://www.naijatiktok.com.ng/2020/05/abacha-loot-nigerian-government-on-4th.html?m=1

Funny thing is Abacha's intention wasn't to loot the money... After the evil Americans sanctioned us in a way that we cant buy refined crude oil or sell our crude oil at international market... Abacha devised a clever plan to have private individuals with offshore accounts conduct transaction unbehalf of Nigerian government for a cut.. greedy Nigerians like Bagudu and current defense minister got supper greedy and connived with the west so as to have Abacha killed cold so as to seat on the money for years, enjoying millions in interest


.

See the money in this country each of us could be entitled to nothing less than 1m from Abacha's Loots..



Naija Get Money #iSWEAR..

solmusdesigns:



Funny thing is Abacha's intention wasn't to loot the money... After the evil Americans sanctioned us in a way that we cant buy refined crude oil or sell our crude oil at international market... Ababcha devised a clever plan to have private individuals with offshore accounts conduct transaction unbehalf of Nigerian government for a cut


.

I don't know you and buhari who is more sensible. Abacha is a saint compare to you!
You dare say Abacha's intentions wasn't to loot?

Davash222:

I don't know you and buhari who is more sensible. Abacha is a saint compare to you!
You dare say Abacha's intentions wasn't to loot?

some narations are not meant for naïve fibble minds, its for deep thinkers, why would Abacha launder Money to US offshore account when US are the ones who place him and Nigeria on sanction? how come no kobo had being linked to his name or that of his family as immediate beneficiary, why is FG concealing people like Bagudu whose names the offshore accounts where held

And why did US CIA killed Abacha extra judicialy and held on to Nigerian fund 20 years after?

.

solmusdesigns:



Funny thing is Abacha's intention wasn't to loot the money... After the evil Americans sanctioned us in a way that we cant buy refined crude oil or sell our crude oil at international market... Abacha devised a clever plan to have private individuals with offshore accounts conduct transaction unbehalf of Nigerian government for a cut.. greedy Nigerians like Bagudu and current defense minister got supper greedy and connived with the west so as to have Abacha killed cold so as to seat on the money for years, enjoying millions in interest


.

How could you say that when his Wife says with Authority that no matter how much they recover from her late husband that sh3 can't be as poor as African Richest Man - ALIKO DANGOTE



This simply means Nigeria is concentrating on the foreign banks while the trillions in pounds are hidden here in Naija..



THIS MAN REALLY USED OUR HEAD..

Djpaparazy:
See the money in this country each of us could be entitled to nothing less than 1m from Abacha's Loots..



Naija Get Money #iSWEAR..

Mr. Man, it doesn't work that way anywhere in the world. When too much money is in circulation then the supply of money is greater than the demand and the money loses its value.
The government could just go ahead and print out money and distribute, but sure it has economic implications.

Djpaparazy:


How could you say that when his Wife says with Authority that no matter how much they recover from her late husband that sh3 can't be as poor as African Richest Man - ALIKO DANGOTE



This simply means Nigeria is concentrating on the foreign banks while the trillions in pounds are hidden here in Naija..



THIS MAN REALLY USED OUR HEAD..

was alleged to have said that yet no video or audio to that effect

look am not saying Abacha is corruption free, I am only narrating origin of funds in various offshore accounts held in the name of Abacha's associate as at the time we faced heavy sanction..

I do you think Abacha was able to sell crude oil even under heavy sanctions? how did you think Nigeria got military supplies , food and drugs after full closure on our economy during abacha regime?

The same man pmb said never stole our money?

Today is my birthday, show some love. Thank you

solmusdesigns:


some narations are not meant for naïve fibble minds, its for deep thinkers, why would Abacha launder Money to US offshore account when US are the ones who place him and Nigeria on sanction? how come no kobo had being linked to his name or that of his family as immediate beneficiary, why is FG concealing people like Bagudu whose names the offshore accounts where held

And why did US CIA killed Abacha extra judicialy and held on to Nigerian fund 20 years after?

Inukwa
How do you sleep at night?

Davash222:

Inukwa
How do you sleep at night?

ogini

after a could shower, I say my prayer and sometimes get an olosho to keep my bed warm,.. how do you also sleep at night

solmusdesigns:


ogini

after a could shower, I say my prayer and sometimes get an olosho to keep my bed warm,.. how do you also sleep at night

After taking two tabs of unadulterated SK with a bottle of mortuary-standard Heineken, off I sleep.

Davash222:

After taking two tabs of unadulterated SK with a bottle of mortuary-standard Heineken, off I sleep.

You Sir are a legend

solmusdesigns:


You Sir are a legend

You taught me well, boss

[s]

solmusdesigns:


You Sir are a legend

[/s]

[s]

solmusdesigns:



was alleged to have said that yet no video or audio to that effect

look am not saying Abacha is corruption free, I am only narrating origin of funds in various offshore accounts held in the name of Abacha's associate as at the time we faced heavy sanction..

I do you think Abacha was able to sell crude oil even under heavy sanctions? how did you think Nigeria got military supplies , food and drugs after full closure on our economy during abacha regime?

[/s]

solmusdesigns:



Funny thing is Abacha's intention wasn't to loot the money... After the evil Americans sanctioned us in a way that we cant buy refined crude oil or sell our crude oil at international market... Abacha devised a clever plan to have private individuals with offshore accounts conduct transaction unbehalf of Nigerian government for a cut.. greedy Nigerians like Bagudu and current defense minister got supper greedy and connived with the west so as to have Abacha killed cold so as to seat on the money for years, enjoying millions in interest


.

Hmmm really

adeoladeola:


Mr. Man, it doesn't work that way anywhere in the world. When too much money is in circulation then the supply of money is greater than the demand and the money loses its value.
The government could just go ahead and print out money and distribute, but sure it has economic implications.

Oyel de your head
Smart guy