The United State Government (US) is set to return over $23 million Abacha loot to the federal government of Nigeria.
This follows an agreement reached by both countries on the repatriation of the the loot.
The agreement signing ceremony was held in the office of the Attorney General of the Federation and Minister of Justice, Abubakar Malami on Tuesday.
The US Ambassador to Nigeria, Mary Beth Leonard signed on the behalf of the US government, while Malami signed on behalf of the Nigerian government.
Malami while speaking after the agreement was signed said the fund when returned would be used for three ongoing projects.
According to Malami, the projects include the ongoing Abuja-Kaduna road and the 2nd Niger Bridge.
The federal government of Nigeria in the past had recovered several other tranches of the Abacha loot, which are proceeds diverted from the public account by the former military head of state, General Sani Abacha’s military administration in the 1990s.
In 2020, the US and Jersey also agreed to return over $308 million in confiscated funds to Nigeria.
In 2006, about $723 million in Abacha loot was returned to Nigeria from Switzerland.
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