According to the US Department of Justice, the Federal Government of Nigeria has received about $20.6 million as part of the plunder linked to former Nigerian military ruler, General Sani Abacha and his accomplices.
The latest repatriation, according to a statement from the US Department of Justice, brings the total sum the US has forfeited and returned in this matter to almost $332.4 million.
A civil forfeiture complaint for more than $625 million that could be linked to money laundering involving Abacha, and others was filed in the District of Columbia in 2014. As a result of this complaint, a judgment was entered there in 2014 ordering the forfeiture of roughly $500 million that was held in accounts around the world.
In 2020, the department repatriated over $311.7 million of the forfeited assets that had been located in the Bailiwick of Jersey. Last year, the UK government enforced the US judgment against the additional over $20.6 million.
The US government said the repatriation was in accordance with an August 23 agreement between both governments to repatriate assets the United States forfeited from Abacha.
“Under the agreement signed in August, the United States agreed to transfer 100% of the net forfeited assets to Nigeria to support three critical infrastructure projects in Nigeria that were previously authorized by Nigerian President Muhammadu Buhari and the Nigerian legislature.
“The $20,637,622.27 marks a slight reduction from the $23 million announced in August due primarily to exchange rate fluctuations between British pounds sterling and U.S. dollars.
“The funds governed by this agreement will help finance the Second Niger Bridge, the Lagos-Ibadan Expressway, and the Abuja-Kano road – investments that will benefit the citizens of each of these important regions in Nigeria,” the statement partly read.
The agreement includes key measures to ensure transparency and accountability, including administration of the funds and projects by the Nigeria Sovereign Investment Authority (NSIA), financial review by an independent auditor, and monitoring by an independent civil society organization with expertise in engineering and other areas.