The Nation reports that The United States of America has decided to return about $480m (N95bn) to Nigeria.
The money is considered to have been stolen by the late head of state, Gen. Sani Abacha and his family. However, the conditions for the return of the money are still being discussed
The scheduled repatriation is the result of the recent meeting between the Department of Justice and the Attorney-General of the Federation, Abubakar Malami (SAN) and the Acting Chairman of the Economic and Financial Crimes Commission( EFCC), Mr. Ibrahim Magu.
“This is the largest loot ever traced to a former Nigerian public officer in the U.S,” said a source who asked to be anonymous.
“The DOJ, the AGF and the EFCC have concluded all the talks; we are in the process of repatriation of the $480million.
“Although there are interventions from private lawyers, the DOJ prefers a government-to-government deal.
“ I can tell you that the funds will soon be repatriated. If there is anything left, it has to do with the conditions which the US will attach to the utilisation of the funds.
“The US is likely to advise on specific areas to spend the funds on and the project monitoring mechanisms. It does not want the cash re-looted.
“The Federal government and the U.S. on January 14, 2003 signed the Treaty on Mutual Legal Assistance in Criminal Matters between the two nations. So, no corrupt public officers from Nigeria can hide in the US.
“At the session with AGF and the EFCC boss, they told the Nigerian team that the DOJ now has Kleptocracy Unit which is closing tabs on Political Office Holders and other public officers in this country and many other nations.”