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US condemns corruption as recovered Abacha loot hits $334.7m

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The amount of money stolen by late General Sani Abacha and his cronies which have been repatriated to Nigeria by the United States has hit over $334.7 million, the US Ambassador to Nigeria, Mary Leonard, said on Tuesday.

According to her, the US government had been keenly aware of the devastating impact of corruption on societies, including eroding trust and the ability of governments to deliver to their citizens.

“It distorts the economies and access to key services. It hinders development, pushes citizens towards extremism and makes countries and their officials susceptible to malicious foreign interference”, the US Envoy emphasised.

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Leonard expressed these views during the signing of an agreement with the Federal Government for the repatriation of $23 million, being assets looted by Abacha and his cronies.

While the Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), signed the agreement on behalf of the Nigerian government, Leonard signed for the United States.

Malami said since 2016, the Federal Ministry of Justice, United Kingdom National Crime Agency and United States Department of Justice have been working closely with the legal representatives of the Federal Government to finalise litigations related to the Abacha linked assets.

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Following agreement between parties, the AGF said the UK High Court granted the NCA a registration and recovery order on July 21, 2021, which was sealed by the court on August 4 2021.

Leonard, in her speech, said the US Department of Justice and the Federal Bureau of Investigation, seized the stolen funds because Abacha and his associates violated US laws, when they laundered the funds through the US and into accounts to the UK.

She said, “This agreement is also kind of collaboration that our government must continue in order to right the wrongs committed under the previous regimes, combined with a $311.7m seized and repatriated with the assistance of the Bailiwick of Jersey and the government of Nigeria in 2020.

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“This repatriation brings to a total amount of funds repatriated in this case by the US to more than $334.7 million. As a result of today (Tuesday’s) agreement, $23 million will be transferred to the Nigerian government, which through the NSIA (Nigerian Sovereign Investment Authority), will be used to continue the construction of three key infrastructural projects located in strategic economic zones of the country: The 2nd Niger Bridge, Lagos-Ibadan Expressway and the Abuja-Kano Road.

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