Over $334.7 million in stolen funds from the late General Sani Abacha and his associates have been returned to Nigeria by the US, according to US Ambassador to Nigeria Mary Leonard on Tuesday.
She claimed that the US government was well aware of the terrible effects that corruption has on communities, particularly how it undermines trust and the capacity of governments to provide for their inhabitants.
It affects access to essential services and the economies. The US envoy emphasized that it impedes development, encourages extremism among citizens, and leaves governments and their officials open to nefarious foreign meddling.
Leonard made these comments when he and the Federal Government signed a contract for the return of $23 million in assets that Abacha and his accomplices had looted.
Leonard signed for the United States while Abubakar Malami (SAN), the Attorney-General of the Federation and Minister of Justice, did so on behalf of the Nigerian government.
According to Malami, the Federal Ministry of Justice, the UK National Crime Agency, and the US Department of Justice have been collaborating closely with the legal representatives of the Federal Government since 2016 to resolve legal matters involving assets tied to the Abacha regime.
As a result of an agreement between the parties, the UK High Court reportedly granted the NCA a registration and recovery order on July 21, 2021, which the court then sealed on August 4 of that same year.
In her address, Leonard said that Abacha and his colleagues broke US law when they transferred the stolen money through the US and into accounts in the UK. As a result, the US Department of Justice and the Federal Bureau of Investigation seized the assets.
In addition to the $311.7 million that was seized and will be repatriated with the aid of the Bailiwick of Jersey and the government of Nigeria in 2020, she added, “This agreement is also a kind of collaboration that our government must continue in order to right the wrongs committed under the previous regimes.
“With this repatriation, the US has now returned more than $334.7 million in funds to this lawsuit. The Nigerian government will receive $23 million as a result of Tuesday’s agreement, which it will use through the NSIA (Nigerian Sovereign Investment Authority) to continue building three important infrastructure projects that are situated in the nation’s strategic economic zones: the 2nd Niger Bridge, the Lagos-Ibadan Expressway, and the Abuja-Kano Road. In other words, just like the $311.7 million that was previously confiscated and returned, the criminal proceeds that have been recovered will be transformed into an impactful and visible illustration of the potential of government resources that would directly enhance the lives of ordinary Nigerians.
“US law enforcement will continue to prevent corrupt actors and their assets from finding safe havens. Reiterating the crucial role Nigeria’s civil society plays in battling corruption is another benefit of our agreement today. It includes provisions for an independent auditor and an independent CSO monitor within Nigeria to oversee how these recovered money are being used.
She assured the Nigerian people that the United States would keep doing its share to help with the recovery and repatriation of illicit funds.
“I am extremely happy to be representing the US government to finish the deal for the repatriation of further assets worth roughly $23 million that were stolen from the Nigerian people by former dictator Sani Abacha and his accomplices and will be returned to the Nigerian people,” Leonard said. In reaction to General Abacha and his colleagues breaking US laws by transferring these assets through the US and into accounts in the UK, the US Department of Justice and the Federal Bureau of Investigation seized these cash.
The Federal Republic of Nigeria, the US, the UK, and other countries collaborated extensively and at a high level to make the Nigerian people whole despite the flagrant violation of trust caused by these actions.
“The US views the battle against corruption as a vital national security issue because of the role corruption plays in undermining democracy. In order to achieve this, President Biden firmly backed US anti-corruption campaign in December.
Prior to executing the deal, Malami added the following: “The forfeited Mecosta/Sani assets were subsequently transferred to the NCA, which on February 7, 2022 held the sum of $23,439,724, pending the implementation of the asset return agreement between the FRN and the USA.
“The President has given my office the mandate to ensure that all international recoveries are invested transparently and supervised by civil society organizations to complete these three projects by the specified deadline.”
The AGF urged the US government to continue supporting Nigeria’s dedication to prompt and open asset management.
