Thu. May 23rd, 2024

$308m Abacha loot to be used on Lagos-Ibadan, Abuja–Kano Expressways ― Malami

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Moments after Jersey, Nigeria and the United States of America signed an agreement to return over US$308 million in confiscated funds to the people of Nigeria, the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, SAN, on Tuesday, said the recovered will be used on the construction of Lagos – Ibadan Expressway, Abuja – Kano Expressway and the Second Niger bridge$308 million looted by the late former Head of State, General Sani Abacha Malami said, “As you are aware, the government of Nigeria has committed that the assets will support and assist in expediting the construction of the three major infrastructure projects across Nigeria – namely ‘These projects currently being executed under the supervision of the Nigeria Sovereign Investment Authority as a public-private partnership (PPP) will boost economic growth and help alleviate poverty by connecting people and supply chains from the East to the West and to the Northern part of Nigeria, a vast area covering several kilometers with millions of the country’s population set to benefit from the road infrastructures.“

In a statement published on the website of the US Embassy and Consulate in Nigeria, Malami said the agreement has “culminated in a major victory, for Nigeria and other African countries as it recognizes that crime does not pay and that it is important for the international community to seek for ways to support sustainable development through the recovery and repatriation of stolen assets.”

“Without the commitment of the three parties to the Agreement (Nigeria, Jersey and the United States) and that of the legal experts and Attorneys representing Nigeria, it would have been impossible to achieve the success recorded today,” Malami added.

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