FG to repatriate $321 million Abacha loot from US

By Lawrence Olaoye

The federal government on Wednesday disclosed that it has concluded plans to sign a tripartite Memorandum of Understanding (MoU) with the United States of America (USA) and Jersey Island for the repatriation of fresh $321 million Abacha Loot into the country.
Minister of Justice and Attorney-General of the Federation, Abubakar Malami, who spoke on the repatriation of Abacha Loot said “The immediate figure for repatriation, as it relates to the agreement to be signed next week is $321 million and and the government has indeed given commitment that the proceeds of the looted assets, after recovery, should be applied to Lagos-Ibadan Expressway, Abuja-Kano Road and second Niger Bridge.
The $321 million expected to be repatriated is attached to Abacha and it’s named Abacha Loot. As it relates to James Ibori, the expected amount is €6,863,977.12 million, but the repatriation of same is being negotiated and processed.
In respect of Diezani and Kola Aluko, what is on the ground is MY Galactica Star Yatch and its being sold for the realization proceed and the amount is yet to be finally agreed upon. We’ll disclose the amount when it’s finally agreed upon.”

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