Nigeria has commenced the process of repatriating the $550 million loot the United States of America recovered from the late Head of State, General Sani Abacha, and his associates.
A statement on Wednesday by the Attorney General of the Federation and Minister of Justice, Mohammed Adoke, said the country has established contact with the relevant agencies in the United States of America.
Adoke thanked the US for the forfeiture proceedings instituted by the US Department of Justice and solicited further cooperation for the repatriation of the funds.
Also forfeited by Abacha and his associates are £95,910 in 10 accounts and six investment portfolios linked to the Abachas in France, Britain, British Virgin Islands and the United States.
The letter by Adoke reads in full: “1. The Federal Government of Nigeria welcomes the forfeiture proceedings initiated by the United States Department of Justice against the property related to the corrupt conduct of late General Sani Abacha, the former head of state of Nigeria, and His Associates and the subsequent laundering of corruption proceeds. The proceedings will make if possible for the defendants to forfeit over $550 million and £95,910 in 10 accounts and six investment portfolios linked to the Abachas in France, the Britain, British Virgin Islands and the United States.
“2. We applaud the efforts of the United States to recover the proceeds of corruption for the benefit of the people of Nigeria. As the Central Authority for the Federal Republic of Nigeria, my office has received requests for Mutual Legal Assistance for the Central Authority of the United States and we are cooperating with the United States in line with the obligations we assumed under the Treaty on Mutual Legal Assistance in Criminal Matters.
“3. The overall objective of these efforts is to ensure that Nigeria as the Victim State is able to have the forfeited assets (money) repatriated to Nigeria to fund development projects for the benefit of the people in accordance with the dictates of Chapter IV of the United Nations Convention against corruption (UNCAC). Let me assure you that Nigeria as State Party to UNCAC will do all that is required to realize this objective.”
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