FG set to receive fresh $321m Abacha loot from Island of Jersey
The Federal Government is also set to repatriate looted money and assets linked to James Ibori and Mrs Diezani Alison-Madueke.
The FG has promised to spend the fresh Abacha loot on construction of roads (Punch)
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![An illustrative photo of school students in Delta State. [Twitter/@IAOkowa]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "An illustrative photo of school students in Delta State. [Twitter/@IAOkowa]")
According to Punch, another $321million Abacha loot will be returned to the country soon.
A tripartite understanding between the Island of Jersey, the United States of America and Nigeria has reportedly been established, and Pulse understands that the agreement on the repatriation will be signed next week.
The decision to repatriate the loot was reported to have been taken at the Federal Executive Council meeting presided over by the President Muhammadu Buhari on Wednesday, January 29, 2020.
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Speaking on the $321million Abacha loot, Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami said, based on the Memorandum of Understanding reached by the three parties, the money would be spent on the Lagos-Ibadan Expressway, the 2nd Niger Bridge and the Kaduna-Kano Expressway, Punch reports.
The minister also said the Federal Government is ready to repatriate a separate €6.8m looted by former Governor of Delta State, Mr James Ibori, but added that negotiations had yet to start on the loot.
Malami further disclosed that discussions would soon begin looted assets connected to a former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke.
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