The United States Government and the Nigerian Government have reached an agreement on the return of over $23 million of the Sani Abacha loot.
Both countries signed an agreement on Tuesday in the office of the minister of justice and attorney general of the federation, Abubakar Malami.
US ambassador to Nigeria, Mary Leonard, signed on the behalf of the US Government while Malami signed on Nigeria’s behalf.
Malami said the fund, when returned, will be invested in three ongoing projects by the Federal Government, including the ongoing Abuja-Kaduna road and the second Niger Bridge.
“It is worthy to note that in line with the terms of this agreement, Mr. President had already approved the funds to be utilised for the ongoing Presidential Development Infrastructural Funds (PIDF) projects namely Abuja-Kano Road, Lagos-Ibadan 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 organisation to compete these three projects within the agreed timeline,” Malami stated.
