As it returned $308 million of the loot former military Head of State, Late General Sani Abacha, stole from Nigeria, the United States Government has committed Nigeria to using to execute three infrastructural projects, hinting that the funds will be returned by the Nigerian government if not well used.
It also praised President Muhammadu Buhari’s personal commitment to the anti-corruption crusade in Nigeria.
Abacha was Nigeria’s military dictator between 1994 and 1998, and reputed to have robbed the country blind.
The Presidency noted that in a statement issued by Morgan Ortagus, Spokesperson of the State Department at the end of the signing of the agreement between the U.S. government, the Bailiwick of Jersey, and the Government of the Federal Republic of Nigeria for the return of more than $308 million stolen by late General Sani Abacha , the US government also pledged their commitment to continue to support all other efforts by stakeholders to combat corruption at all levels in Nigeria .
The statement is here reproduced in full:
RETURN OF STOLEN ASSETS TO THE NIGERIAN PEOPLE
‘On February 3, the State Department hosted a ceremony for the signing of an agreement between the U.S. government, the Bailiwick of Jersey, and the Government of the Federal Republic of Nigeria for the return of more than $308 million to the Nigerian people. In the 1990s, the assets were stolen by former military dictator Sani Abacha, and stashed abroad. More than 20 years later, these assets are being returned to the Nigerian people.
“The funds will be used by the Nigerian Independent Sovereign Authority for three infrastructure projects in strategic economic zones across Nigeria. To ensure that the funds are used responsibly and for the good of the nation, the agreement includes mechanisms for monitoring the implementation of these projects as well as external oversight, and it requires Nigeria to repay any funds lost as a result of any new corruption or fraud to the account established to hold the returned assets. This return reflects the growing international consensus that countries must work together to ensure stolen assets are returned in a transparent and accountable manner. It is also consistent with the commitments both the United States and Nigeria made under the principles agreed to at the 2017 Global Forum on Asset Recovery co-hosted by the United States and the United Kingdom.
“This agreement is a symbol of the weight that the United States government places on the fight against corruption. We welcome President Buhari’s personal commitment to that fight, and we will continue to support civil society and other Nigerian efforts to combat corruption at all levels. The fight against corruption is an investment in the future of Nigeria.”
Attorney-General and Minister of Justice, Abubakar Malami, was quoted as saying at the signing ceremony that the “agreement has culminated in a major victory, for Nigeria and other African countries as it recognises that crime does not pay and that it is important for the international community to seek for ways to support sustainable development through the recovery and repatriation of stolen assets…
“Without the commitment of the three parties to the Agreement (Nigeria, Jersey and the United States) and that of the legal experts and Attorneys representing Nigeria, it would have been impossible to achieve the success recorded today.”
Malami listed the projects the returned loot will fund as the Lagos – Ibadan Expressway, Abuja – Kano Road and the Second Niger Bridge.