Malami tells story of how US returned $311m allegedly looted by late Gen. Abacha.


The Federal Government of Nigeria has confirmed the receipt of $311m allegedly looted by late military dictator, General Sani Abacha.

The Attorney-General of Federation and Minister of Justice, Abubakar Malami, confirmed this in a statement signed by his Special Assistant on Media and Public Relations, Dr Umar Gwandu.

Malami said that the loot was repatriated from the United States and the Bailiwick of Jersey.

Malami added that the amount increased significantly from over $308m mentioned in an earlier statement in February to over $311m as a result of the interest that accrued from February 3 to April 28, when the fund was transferred to the Central Bank of Nigeria.

“The legal process to have the money returned to Nigeria began in 2014 while the diplomatic process which led to the signing of the agreement on February 3, 2020 by the governments of Nigeria, United States and the Bailiwick of Jersey, started in 2018.

“This agreement is based on international law and cooperation measures that set out the procedures for the repatriation, transfer, disposition and management of the assets.” he said.

CANDIIDONLINE recalls that Abacha’s Chief Security Officer, Major Hamza Al-Mustapha, had in February revealed that all the funds alleged to have been looted by Abacha were stolen before his government by past leaders of the country.

Al-Mustapha queried the source of the stories alleging the loot, saying they were just lies against his late boss.

He added that late Abacha had stepped on so many toes while he was in power which was the reason some people were so angry and could sponsor such lies against him.

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Written by Mateen Badru


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