By Harry Awurumibe, State House, Abuja
Barring any change in plans, the Federal Government will next week sign the Asset Sharing Agreement that will result in the repatriation of over 321 million dollars of the ‘Abacha Loots’.
This cheering news was broken today (Wednesday) by the Attorney-General and Minister of Justice, Mallam Abubakar Malami, while briefing State House Correspondents after the first Federal Executive Council (FEC) meeting of 2020.
According to him, “the office of the Attorney-General and Minister of Justice, that is the Federal Ministry of Justice has today presented a Cabinet Memo registered as EC- 2020-16 for the consideration of the Cabinet.
“The memo seeks approval of the council to sign the Asset Sharing in the Tripartite Agreement between Nigeria, Island of Jersey and United States of America (USA) for the purpose of the repatriation of looted assets.
“As you might have been aware during the first term of President Muhammadu Buhari from 2015 to 2019, the government and the administration of President Muhammadu Buhari have succeeded in enhancing the recovery of the looted assets by over 1,300 %”, Malami revealed.
He said that, ‘It is in line with that spirit of aggressive recovery of looted assets that the Office of the Attorney General has indeed been pursuing the recovery of the looted assets”.
The Minister however disclosed that the Federal Government has directed that the $321 million that will be repatriated will specifically be used to fund the ongoing federal government signature projects like the 2nd Niger Bridge; Lagos to Ibadan Expressway and Abuja to Kano roads.
For clarity Malami said that “the immediate figure as it relates to repatriation in the agreement that is expected to be signed next week is $321 million. And the government has indeed given commitment that the proceeds of the looted assets upon recovery be applied to the above mentioned projects”.
