$311million Abacha loot already allocated – Presidency

The Presidency has disclosed that the $311million Abacha loot returned to Nigeria from the United States and the Bailiwick of Jersey, on Monday has already been allocated.

In a statement released the spokesperson to the President, Garba Shehu, the repatriated funds would be used in full, for “vital and decades-overdue infrastructure development”

He said:

“Indeed, previous monies returned last year from Switzerland – some $320 million US dollars – are already being used for the government’s free school feeding scheme, a stipend for millions of disadvantaged citizens, and grain grants for those in severe food hardship.

“Without these funds, the fight against COVID-19 would be even tougher.

“The latest return is a testament to the growing and deepening relationship between the government of Nigeria and the government of the United States.

“Without cooperation both from the UK Government, the US Executive branch and US Congress, we would not have achieved the return of these funds at all,” he said.

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