The Federal Governement of Nigeria (FGN) has engaged and continues to engage with international partners, including the USA, in the recovery and return to Nigeria of stolen assets. Nigeria and the USA are continually cooperating in the recovery and return of those assets.
This long-standing cooperation recently culminated in the successful signing of memorandum of understanding for the repatriation of over $300 million looted assets associated with General Sani Abacha.
Recall that prior to the 2020 agreement with the USA and Island of Jersey, the Federal Government of Nigeria had signed an agreement for the return of over 300 million US Dollars in 2017 which was effectively deployed for the purpose for which it was agreed to be applied.
The FGN is also negotiating the recovery of assets from several countries and the agreements for the recoveries and the procedure for recoveries are always presented to Federal Executive Council for approval and duly made public once the processes have been concluded.
No third-party interest was captured in the Council memo that was approved by the Council.
The 2017 repatriated funds were deployed to the implementation of the National Social Investment program @NSIP_NG and is being monitored by civil society organizations across the country.
The 2020 Agreement which will be managed by Nigeria’s Sovereign Investment Authority @nsia_nigeria, will also be monitored by civil society organizations and will be used to support the completion of critical road infrastructures, ...
... namely Abuja to Kano Road, Second Niger Bridge and the Lagos to Ibadan Expressway. These projects will support socioeconomic development across the country. //
