FG Set To Receive Fresh $321m Abacha Loot From Island Of Jersey

The Federal Government is set to receive $321million Abacha loot from the Island of Jersey.

A tripartite understanding between the Island of Jersey, the United States and Nigeria have reportedly been established, and the agreement on the repatriation will be signed next week.

The decision to repatriate the loot was reported to have been taken at the Federal Executive Council meeting presided over by the President Muhammadu Buhari on Wednesday, January 29, 2020.

Speaking on the $321million Abacha loot, Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami said, based on the Memorandum of Understanding reached by the three parties, the money would be spent on the Lagos-Ibadan Expressway, the 2nd Niger Bridge and the Kaduna-Kano Expressway, Punch reports.

The minister also said the Federal Government is ready to repatriate a separate €6.8m looted by former Governor of Delta State, Mr James Ibori, but added that negotiations had yet to start on the loot.

Malami further disclosed that discussions would soon begin looted assets connected to a former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke.