SUN, FEB 23 2020-theG&BJournal- The Federal Government of Nigeria has come open with its utilization of the recovered billions stolen by ex-head of state Sanni Abacha, after a barrage of criticism that trailed leaked documents suggesting it was going to easily hand over $100 million to a state governor once implicated on the loot.
‘’Nigeria and the USA are continually cooperating in the recovery and return of those assets,’’ the FG said Saturday, while speaking to what it called the long-standing cooperation which recently culminated in the ‘’successful signing of memorandum of understanding for the repatriation of over $300 million looted assets associated with General Sanni Abacha.’’
The FG did not in the statement it issued, refer nor refute the allegations that the money will be handed over to a state governor as circulated in Nigerian media.
The FG recalled that prior to the 2020 agreement with the USA and Island of Jersey, it had signed an agreement for the return of over $300 million US Dollars in 2017 which was effectively deployed for the purpose for which it was agreed to be applied.
‘’The 2017 repatriated funds were deployed to the implementation of the National Social Investment program (NSIP), which is being monitored by civil society organisations in the country.’’
It noted that the 2020 agreement which will be managed by the Nigeria’s Soverign Investment Authority (NSIA), will also be monitored by civil society organizations and will be used to support the completion of critical road infrastructures, namely Abuja to Kano road, second Niger bridge and the Lagos-Ibadan Expressway.
The FG said it is also negotiating the recovery of assets from several countries and the agreements for recoveries and the procedure for recoveries are always presented to the Federal Executive Council (FEC) for approval and duly made public once the processes have been concluded.
‘’Nogeria is also cooperating with the US in the recovery of several other assets including corruption proceeds linked to former Petroleum Minister Deziani Alison-Madueke and her associates, and former Governor James Ibori as well as several others.’’
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