The Federal Government of Nigeria, alongside the Island of Jersey, will be signing an agreement with the United State government for the recovery of 321 million dollars Abacha loot.
The Attorney-General of the Federation stated that efforts were being geared towards repatriating the money, which he disclosed while addressing newsmen in Abuja on Wednesday after the federal executive meeting.
Malami, speaking to newsmen said;
“Council approved the asset sharing tripartite agreement between Nigeria, Island of Jersey and the United States of America for the purpose of repatriation of looted assets,” he said.
“We have overtime been discussing with other jurisdictions including Island of Jersey and the United States among for the purpose of the repatriation of looted assets connected to Abacha family, Diezani Alison-Madueke, Kolawole Aluko among others.
“It is within this context that we have now come to terms with this jurisdiction – Island of Jersey, United States of America and indeed Nigeria by way of negotiating for the repatriation of sizable assets.
“As it is, we have concluded on the understanding that the sum of $321 million will be repatriated in due course inclusive of James Ibori assets as well.
“So, we are hopeful that by next week we will sign the agreement for the looted assets. The assets that are going to be repatriated is located and in the custody of Island of Jersey.
“But the United States of America came on board because it has obtained an order for forfeiture against the assets, considering that the medium of exchange used in the looting the assets is the US dollar.
“So, the amount upon signing the MOU will be remitted from the Island of Jersey within a number of days agreed upon, within 28 days.
“The money will be repatriated from the Island of Jersey to the United States of America and thereafter within 45 days, it is agreed by the parties that the United States is America will make the necessary arrangements for the eventual repatriation to the Nigerian state.”
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Malami also stated that the federal government is expecting about “€6 million from convicted ex-governor James Ibori as well as proceeds of the planned auction of a yacht seized from businessman, Kola Aluko”.
He said:
“It is in line with that spirit of aggressive recovery of looted assets that the office of attorney general has been pursuing the recovery of looted assets.’’