N116.04bn Abacha loot ready for repatriation -FG

…To sell Diezani’s Yatch

SUNDAY ODE, Abuja

The Federal Government has announced that another tranche of monies stolen by the late Head of State, General Sani Abacha, totaling N116.041 was ready for repatriation to the country from Jersey Island.

To that extent, the Federal Executive Council (FEC) on Wednesday approved the signing of an agreement between Nigeria, Jersey Island and the United States of America to facilitate the repatriation  the money ($321 million) stolen from public tilt.

Minister of Justice and Attorney General of the Federation, Abubakar Malami said that the agreement would be signed next week.

Malami disclosed this while briefing State House correspondents on the outcome of the weekly FEC meeting presided over by President Muhammadu Buhari at the Presidential Villa, Abuja,

He explained that after the tripartite agreement is signed, it would take 28 days for the money to be transferred from Jersey Island to the US and it will take another 45 days for the money to be transferred from the US to the Nigerian government after due diligence.

According to him, it had been agreed on terms that Jersey Island and the US would share $10 million as cost of administration of the loot, bringing the total amount of the looted fund to $331 million.

Malami also disclosed that approval had been given by FEC to the effect that the recovered loot should be expended on the ongoing Federal Government projects in parts of the country.

”The immediate figure for repatriation, as it relates to the agreement to be signed next week is $321 million and and the government has indeed given commitment that the proceeds of the looted assets, after recovery, should be applied to Lagos-Ibadan Expressway, Abuja-Kano Road and second Niger Bridge.

”The $321 million expected to be repatriated is attached to Abacha and it’s named Abacha Loot. As it relates to James Ibori, the expected amount is €6,863,977.12 million, but the repatriation of same is being negotiated and processed.

”In respect of Diezani and Kola Aluko, what is on the ground is MY Galactica Star Yatch and it’s being sold for the realization proceed and the amount is yet to be finally agreed upon. We’ll disclose the amount when it’s finally agreed upon”,  the minister explained.

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