US returns $335m, the latest tranche $23m
By Jeph Ajobaju, Chief Copy Editor
America has repatriated to Nigeria more than $334.7 million stashed offshore by Sani Abacha and his fellow thieves in the stealing spree that defined his entire junta spanning 1993 to 1998, now brazenly copied by the new officials in Abuja.
United States Ambassador to Nigeria Mary Leonard disclosed the sum, saying Washington is 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”, she said.
After Abacha’s death in 1998, US officials announced he alone stole more than $50 billion from Nigeria’s treasury.
Leonard spoke at the signing of an agreement with Abuja for the repatriation of $23 million, the latest tranche of the Abacha loot.
She signed on behalf of the US government, federal Attorney General and Justice Minister Abubakar Malami did for Nigeria.
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Result of collaboration
Malami disclosed that
The Ministry of Justice, United Kingdom National Crime Agency (NCA), and United States Department of Justice have been working closely with the legal representatives of Nigeria since 2016 to finalise litigations on the Abacha heist.
The UK High Court granted the NCA a registration and recovery order on 21 July 2021, which was sealed by the court on 4 August 2021.
“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 execution of the asset return agreement between the FRN and the USA.
“The President’s mandate to my office is to ensure that all international recoveries are transparently invested and monitored by civil society organisation to complete these three projects within the agreed timeline.”
Washington should not relent in supporting Abuja’s commitment to speedy and transparent management of returned assets, Malami urged, per The PUNCH.
Funds seized because Abach violated US laws
Leonard said the US Department of Justice and the Federal Bureau of Investigation (FBI), 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.
Her words: “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.
“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’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.
“In other words, these recovered criminal proceeds, like the $311.7m previously seized and repatriated, will be transformed into visible and impactful representation of the possibilities of government assets that directly improve the lives of average Nigerians.”
US not a safe haven for corruption
“US law enforcement will continue to deny safe havens for corrupt actors and their assets. Our agreement today also serves to reaffirm the important role Nigerian Civil Society plays in combating corruption.
“Among other things, it provides for both independent auditor as well as independent CSO monitor within Nigeria to track the expenditure of these recovered funds.
“I am so pleased to be representing the US government to finalize the agreement for the repatriation of approximately $23 million worth of additional assets stolen by former dictator, Sani Abacha, and his associates from the Nigerian people and will be returned to the Nigerian people.
“The US Department of Justice and the Federal Bureau of Investigation seized these funds in response to General Abacha and his associates’ violation of US laws when they laundered these assets through the US and into accounts in the United Kingdom.
“These actions were flagrant breach of the Nigerian people’s trust, but today is the result of an extensive and high level corporation between the US, the UK and the Federal Republic of Nigeria to make the Nigerian people whole.
“It is in recognition of the role corruption plays in undermining democracy that the US considers the fight against corruption as a core national security interest. To that end, President Biden really supported US strategy in countering corruption last December.”
