Breaking News: Nigeria Government received $311.7m Abacha loot

The Federal Government, on Monday, affirmed the receipt of $311.7m plundered by the late military despot, Gen. Sani Abacha. 

The PUNCH reports that the plunder was repatriated from the United States and the Bailiwick of Jersey.

The Attorney General of Federation and Minister of Justice, Abubakar Malami, in an announcement by his Special Assistant on Media and Public Relations, Dr Umar Jibrilu Gwandu, said around $311,797,866.11 of the Abacha plunder was repatriated from the US and Jersey.

According to Malami, the amount increased significantly from over $308m as stated in a press release in February to over $311m because of the interest that accrued from February 3, 2020, to 28th April, 2020, when the fund was transferred to the Central Bank of Nigeria.

The AGF noted that the litigation process for the return of these assets titled “Abacha III” commenced in 2014, while the diplomatic process culminated in the signing of the Asset Return Agreement on February 3, 2020, by the governments of Nigeria, the US and Jersey commenced in 2018.

"This understanding depends on international law and collaboration allots that set the methods for the repatriation, move, demeanor and the board of the benefits," he said.

More details later as it breaks…

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