US set to return $480m; ‘largest loot ever traced to a Nigerian public officer’

The government of the United States of America has agreed to return to Nigeria about $480 million allegedly stolen by the late military Head of State, Gen. Sani Abacha, and his family.

According to The Nation, the development came about after a recent meeting between the the Attorney-General of the Federation, Abubakar Malami (SAN), the Acting Chairman of the Economic and Financial Crimes Commission( EFCC), Ibrahim Magu, and the US department of justice.

However, the conditions for the return is yet to be made known as both governments are currently working on the details.

According to a source, who spoke on the condition of anonymity, the return would be the largest loot traced to any former Nigerian public official in the USA.

“This is the largest loot ever traced to a former Nigerian public officer in the U.S. 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 source noted that Nigerian public officials can’t hide their loots again in the US.

“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.”

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