$311m Abacha loot already earmarked – Presidency
The Presidency says the $311m looted during the Abacha reign and recovered to Nigeria from the United States, on Monday, May 4, 2020, has previously been designated.
This was received in a statement delivered on Tuesday by Garba Shehu, Speaker to the President, Major General Muhammadu Buhari (retd.).
Shehu said the repatriated assets would be utilized in full, for “fundamental and decades-late framework advancement” including the subsequent Niger Bridge, the Lagos-Ibadan and Abuja-Kaduna-Kano roads just as the Mambilla Power Project.
He said the receipt of the taken monies is an open door for the improvement of the country.
“In fact, past monies returned a year ago from Switzerland – some $320 million US dollars – are now being utilized for the administration’s free school taking care of plan, a payment for many impeded residents, and grain awards for those in extreme nourishment hardship.
“Without these assets, the battle against COVID-19 would be significantly harder.
“The most recent return is a demonstration of the developing and extending connection between the administration of Nigeria and the legislature of the United States.
“Without collaboration both from the UK Government, the US Executive branch and US Congress, we would not have accomplished the arrival of these assets by any means,” he said.
The PUNCH had given an account of Monday that the Attorney General of the Federation and Minister of Justice, Abubakar Malami, said roughly $311,797,866.11 of the Abacha loot was repatriated from the US.