• About
  • Advertise
  • Contact
Friday, October 3, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home National

US Agrees To Return Fresh $23.4million Abacha Loot To Nigeria

Vital News by Vital News
August 23, 2022
in National, News
0
Share on FacebookShare on Twitter

Nigeria and the United States of America (USA) on Tuesday signed an agreement for the repatriation of $23,439,724 recovered funds said to have been looted by the late General Sani Abacha.

At the agreement signing ceremony held at the Federal Ministry of Justice (FMOJ), the Attorney- General of the Federation (AGF) and Minister of Justice, Abubakar Malami signed for Nigeria while the US Ambassador to Nigeria, Mary Beth Leonard signed for her country.

Malami said the fund, which is referred to as “the Mecosta/Sani Mohammed assets (otherwise known as Abacha Five) would be deployed to the ongoing construction of the Lagos-Ibadan express way, Abuja-Kano road and the second Niger bridge.

He said Nigeria was hopeful that other pending cases such as “Bayelsa, Galactica, Blue Trust and Seaborne assets” would be resolved in Nigeria’s favour.

“You may all recall that since 2016, the FMOJ, the UK National Crime Agency (NCA) and the US Ministry of Justice (USDOJ) have been working closely with the legal representatives of the FRN to finalize litigations related to Abacha linked assets.

RelatedStories

Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From October 29

Realnews Announces Theme, Date For It’s 13th Anniversary Lecture

Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji, For Hard Work, Dedication

Engineer Urges Nigeria To Invest In Aerospace Technology To Tackle Insecurity, Modernise Aviation

“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 forfeited Mecosta/Sani assets were subsequently transferred to the NCA which, on 7th of February 2022 held the sum of $23,439,724 pending the execution of the asset return agreement agreed between the FRN and the USA.

“Following the court order, 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).
READ: Otunba APS Arogundade @ 63: Celebrating An Achiever and Philanthropist Per Excellence

“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.

” As such, I would like to use this opportunity to urge 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 to 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 prionties 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.

The US Ambassador, who said country elected to ensure the repatriation of Nigeria’s looted assets as part of its support for the fight against corruption in Nigeria.

She assured of her country’s commitment to ensuring that Nigeria’s assets were utilised for the benefit of Nigerians.

Leonard assured that her country would continue to support efforts to return all funds looted from Nigeria.

She urged the Nigerian authority to ensure that the recovered funds are applied for the purpose to the three projects agreed upon by parties.

Tags: AbachalootNigeriareturn
Previous Post

FCCPC Assistant Director Dies After Office Fight With Female Colleague

Next Post

Court Nulifies Suspension of NBA Secretary General, Joyce Oduah

Vital News

Vital News

RelatedStories

Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From  October 29
News

Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From October 29

October 2, 2025
National

Realnews Announces Theme, Date For It’s 13th Anniversary Lecture

October 2, 2025
Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji,  For Hard Work, Dedication
Education

Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji, For Hard Work, Dedication

October 2, 2025
FG Cancels Independence Anniversary Parade
Aviation

Engineer Urges Nigeria To Invest In Aerospace Technology To Tackle Insecurity, Modernise Aviation

October 2, 2025
Police Begin Manhunt For Killers Of Three Officers, Two Vigilante In Kogi
News

Bandits Kidnap Police Officer In Kwara

October 2, 2025
Next Post

Court Nulifies Suspension of NBA Secretary General, Joyce Oduah

Four Kidnapped Catholic Rev Sisters Regain Freedom

Nigeria Exports Non-oil Products Worth $2.6bn First Half of 2022 — NEPC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Olumuyiwa, OAUTH Ag. CMD Absconds, Director Suspended Over Job Racketeering Scandal

Olumuyiwa, OAUTH Ag. CMD Absconds, Director Suspended Over Job Racketeering Scandal

2 years ago
Remi Tinubu Awards Scholarships To Students From 36 States, FCT

First Lady, Remi Tinubu Worries Over High Prevalence of Cervical Cancer In Nigeria

2 years ago
As Ogun Moves To Preserve Abeokuta-Sagamu Road  by Funmi Branco

Abiodun , APC To Intervene In Ogun Assembly Crisis

2 years ago
Ododo Promises Effective Management Of Disasters , Receives Report Of TWG On Flood

Ododo Promises Effective Management Of Disasters , Receives Report Of TWG On Flood

1 year ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu
No Result
View All Result

Highlights

Engineer Urges Nigeria To Invest In Aerospace Technology To Tackle Insecurity, Modernise Aviation

Bandits Kidnap Police Officer In Kwara

Death Toll In Ibaji Boat Mishap Rises To 36

Arrest of 147 Terrorists In One Week, Confirms Tinubu Is Boosting Troops’ Morale – Group ‎

Fubara Sacks Commissioners, SSG, SAs, SSAs

2027 : Group Holds Awareness Walk In Kogi, Reaffirms Commitment To Vision, Leadership Of President Tinubu

Trending

Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From  October 29
News

Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From October 29

by Vital News
October 2, 2025
0

The Kogi State Government says it will commence strict enforcement of ban on Zariagi, Osara and other...

Realnews Announces Theme, Date For It’s 13th Anniversary Lecture

October 2, 2025
Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji,  For Hard Work, Dedication

Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji, For Hard Work, Dedication

October 2, 2025
FG Cancels Independence Anniversary Parade

Engineer Urges Nigeria To Invest In Aerospace Technology To Tackle Insecurity, Modernise Aviation

October 2, 2025
Police Begin Manhunt For Killers Of Three Officers, Two Vigilante In Kogi

Bandits Kidnap Police Officer In Kwara

October 2, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From October 29 October 2, 2025
  • Realnews Announces Theme, Date For It’s 13th Anniversary Lecture October 2, 2025
  • Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji, For Hard Work, Dedication October 2, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In