The Federal Government said, on Monday, that it had received approximately $311,797,866.11 million, looted by the late military dictator, Gen. Sani Abacha, from the United States and the Bailiwick of Jersey.
The Attorney General of the Federation and Minister of Justice, Abubakar Malami, disclosed this in a statement by his Special Assistant on Media and Public Relations, Dr. Umar Jibrilu Gwandu.
The AGF noted that the repatriated sum had increased significantly from over $308m as earlier stated in February to over $311m as a result of the accrued interest, from February 3, 2020, to April 28, 2020, when the fund was transferred to the Central Bank of Nigeria.
The litigation process for the return of the assets titled “Abacha 3” began in 2014, according to the statement, while the diplomatic process, which culminated in the signing of the Asset Return Agreement on February 3, 2020, by the governments of Nigeria, US and Jersey, commenced in 2018.
The AGF said the agreement was based on international law and cooperation measures that set out the procedures for the repatriation, transfer, disposition and management of the assets.
“In line with the 2020 Asset Return Agreement, the fund has been transferred to The Central Bank of Nigeria Asset Recovery designated account and would be paid to the National Sovereign Investment Authority within the next 14 days,” he said.