Looted funds: Nigeria to recover $200m stashed abroad – Malami




The Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), Monday said Nigeria would soon make additional recovery of about $200million, being part of public funds that were looted and stashed outside the country.

He said the Federal Ministry of Justice is currently attending to repatriation of the looted fund is subject to the settlement of litigations.

Speaking at the 2021 annual public lecture organised by the Centre for Media and Peace Initiative, New York, United States of America, he said, “Various steps have been taken in terms of legislative frameworks, establishment of institutions and policy measures targeted at combating corruption, regional corporation and ensuring good governance for the benefit of citizens”,

In a statement made available to newsmen by his special assistant on Media and Public Relations, Dr. Umar Gwandu, Malami stated further that : “In 2017, the signing of a trilateral Agreement with Switzerland and World Bank enabled the recovery of $322.515million.

“In 2020 a total sum of $311.7million was returned to Nigeria after signing another trilateral agreement with the U.S.A and Bailiwick of Jersey.

“Also in the year 2020, 5.4million Euros was recovered in March emanating from an agreement signed with Northern Island. The Federal Government was able to recover from UK the sum of €4,214,017.66 connected to the family of James Ibori.

“Additional recoveries to the tune of $200million are being anticipated subject to the settlement of litigations of which the Ministry of Justice is attending to presently.

“The Buhari’s approach to fight against corruption has been one of three cardinal pillars of our campaign promises, the others are economic and and security development”.

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