The federal government is poised to sign a memorandum of understanding for the repatriation of $321 million loot traced to late Head of State, General Sani Abacha.
This followed the approval on Wednesday at the meeting of the Federal Executive Council (FEC), of an asset sharing agreement among Nigeria, the Island of Jersey and the United States.
The Attorney General of the Federation and Minister of Justice, Abubakar Malami, revealed this while briefing State House correspondents after the meeting presided over by President Muhammadu Buhari.
He said even though the money is domiciled in the Island of Jersey, the United States will be involved in its repatriation process because it is denominated in US dollars.
Malami said both the US and the Island of Jersey will receive $10 million as administrative charges.
He said the money should be repatriated in about two months.
Malami also said that other assets to be repatriated include that of former Minister for Petroleum Resources, Diezani Alison-Madueke, Kolawole Aluko and James Ibori, who was governor of Delta State from 1999 to 2007 put at €6.6 million.
Discussion about this post