The United States and the Bailiwick of Jersey have returned $311,797,866.11, the third tranche of the late General Sani Abacha’s loot to the Federal government.
Disclosing this, the Attorney-General of Federation and Minister of Justice, Abubakar Malami, released a statement on May 4 through his Special Assistant on Media and Public Relations, Dr Umar Gwandu.
Malami mentioned that the amount increased from over $308 million in an earlier statement to over $311 million due to accrued interest from February 3 to April 28, when the fund was transferred to the Central Bank of Nigeria.
He highlighted that the latest recovery would expedite the construction of three major infrastructure projects in Nigeria, namely the Lagos – Ibadan Expressway, Abuja – Kano Road, and the Second Niger Bridge. Additionally, the government is in the process of establishing a Project Monitoring Team to oversee the implementation of the projects and provide regular progress reports to the public.
To ensure transparent management of the returned assets, the government plans to engage a Civil Society Organisation with expertise in substantial infrastructure projects, civil engineering, anti-corruption compliance, anti-human trafficking compliance, and procurement for additional monitoring and oversight. The process for the engagement has already commenced, with advertisements placed in two local newspapers.
Malami pointed out that the recovered funds were laundered through the U.S. banking system and then held in bank accounts in the Bailiwick of Jersey.