The Federal Government and the United States of America signed a contract on Tuesday on the return of Mecosta/Sani Mohammed, sometimes known as Abacha, assets.
Abubakar Malami, SAN, Attorney General of the Federation and Minister of Justice, who executed the contract on behalf of the Federal Government, said that the money was a portion of the looted, stolen cash linked to former Military President Mohammed Sani Abacha.
The US government estimates that $23,439,724 will be returned to Nigeria as part of the Abacha plunder.
The ambassador of the United States to Nigeria, Mary Leonard, attended the signing event in her capacity.
Malami disclosed that both countries arrived at this stage after many negotiation meetings between the representatives of the Federal Republic of Nigeria, United States Department of Justice (USDOJ) and the UK National Crime Agency (NCA).
The AGF expressed his gratitude towards the efforts of the Governments of the United States and the United Kingdom in ensuring that looted funds recovered are returned to Nigeria not only in this instant case but in other pending cases such as Bayelsa, Galactica, Blue Trust and Saborne assets.
Malami recalled that since 2016, the FMOJ, the UK NCA and the USDOJ have been working closely with the legal representatives of the FG to finalize litigations related to Abacha linked assets.
“Further to the agreement between the parties, the UK High Court granted the NCA a Registration and Recovery Order, dated 28 July 2021 and sealed by the Court on 4th August 2021” the AGF said.
Malami disclosed that the forfeited Mecosta/Sani assets were subsequently transferred to the National Crime Agency, which on 7th February 2022, held the sum of twenty three million, four hundred and thirty nine thousand, seven hundred and twenty four United States Dollars ($23,439,724) pending the execution of the asset return agreement agreed between the FRN and the USA.
Following the court order, Malami said the FRN and the USA have negotiated and finalized the terms of the asset return agreement.
“It is worthy to note that in line with the terms of this Agreement, Mr President has already approved the funds to be utilized for the on-going Presidential Development Infrastructural Funds (PIDF) projects namely; Abuja-Kano Road, Lagos-lbadan Express Way and the Second Niger Bridge under the supervision of Nigerian Sovereign Investment Authority (NSIA).
“The President’s mandate to my office is to ensure that all international recoveries are transparently invested and monitored by civil society organization to complete these three projects within the agreed timeline” Malami stated.
The AGF therefore urged the Government of the United States not to relent in supporting Nigeria’s commitment to the speedy, transparent management of returned assets.
“As partners in the global effort fo promote an effective implementation of the United Nations Convention against Corruption, and against the background of constrained economic resources, I urge you to support us in meeting these critical priorities of the FRN by working with us to finish the projects already agreed under the 2020 Tripartite agreement among Nigeria, USA, and the Bailiwick of Jersey for the benefit of Nigeria and its citizens” Malami said.