Sunday, February 28, 2021
telegram SH
Whatsapp 9787748839374893773 1

images 23 1609798193847

Home News General News FG Receives $312m Abacha Loot, Will Fund Road Projects, Niger Bridge

FG Receives $312m Abacha Loot, Will Fund Road Projects, Niger Bridge

The Nigerian government on Monday received $311,797,866 of the Abacha loot from  the United States and the Bailiwick of Jersey after a recent agreement.

FG Receives $312m Abacha Loot, Will Fund Road Projects, Niger Bridge

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami announced this in a statement by his Spokesman, Umar Gwandu, stating that the amount increased from over $308 million two months ago to $311 million because of the interest that accrued.

The justice minister stated that the litigation process for the return of these assets titled “Abacha III” commenced in 2014, while the diplomatic process that culminated into the signing of the Asset Return Agreement in February

The statement said;

This Agreement is based on international law and cooperation measures that sets out the procedures for the repatriation, transfer, disposition and management of the assets.

In line with the 2020 Asset Return Agreement, the fund has been transferred to a Central Bank of Nigeria Asset Recovery designated account and would be paid to the National Sovereign Investment Authority (NSIA) within the next fourteen days.

The NSIA is responsible for the management and execution of the projects to which the funds will be applied

Malami said the money will be used to fund projects including Lagos – Ibadan Expressway, Abuja – Kano Road, and the Second Niger Bridge.


Donate to support Freshreporters=>https://freshreporters.com/support

Join our Telegram Channel=>https://t.me/freshreporters

Like our Facebook Page=> https://facebook.com/freshreporters

Join our WhatsApp Group=> http://bit.ly/3sAh4zf

Follow Us on Twitter=>https://twitter.com/freshreporters

Join Our FACEBOOK GROUP=> https://bit.ly/3ilsqm1

Follow Us on Instagram=>https://instagram.com/freshreporters

Subscribe to our YouTube Channel=> https://bit.ly/3bLfnJj



DISCLAIMER
For publication of your news content, articles, videos or any other news worthy materials, please send a mail to thefreshrepo [email protected]

For Advert and other info, you can send a WhatsApp Message to +2347050565443


Join thousands of readers to receive daily Latest News:

telegram iconJoin our Telegram Group

facebook iconLike our Facebook Page

whatsapp iconJoin our WhatsApp Group

twitter iconFollow Us on Twitter

facebook iconJoin Our FACEBOOK GROUP

instagram iconFollow Us on Instagram

youtube iconSubscribe to our YouTube Channel


PROMO SALES!!! Get cheap WRISTWATCH, SHADES & BRACELET collections😘💃

wristwatch, shades, bracelet

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Viewed news