Nigeria Receives $311m Abacha Loot from USA

Nigeria's Attorney General of the Federation and Minister of Justice, Abubakar Malami has confirmed the receipt of $311.7 million from the government of the United States and the Bailiwick of Jersey, following an agreement between the parties. In a statement by the Special Assistant on Media and Public Relations, Dr Umar Gwandu, the amount has been transferred to a Central Bank of Nigeria Asset Recovery designated account. Malami adds that the money is going to the National Sovereign Investment Authority within fourteen days; in line with the 2020 Asset Return Agreement. The recovery effort consolidates on the established record of President Buhari's administration with a history recovery of $322million from Switzerland in 2018. Meanwhile, Nigerians are eagerly waiting for the judicious utilisation of the fund at this crucial period.