FG to receive new $321m Abacha loot from Island of Jersey

The Federal Government of Nigeria is set to complete plans to receive another $321million Abacha loot in a tripartite understanding between the Island of Jersey, the United States of America and Nigeria.

The Attorney General of the Federation and Minister of Justice, Abubakar Malami, while speaking with newmen, said the decision was taken at the Federal Executive Council meeting presided over by the President Buhari today Wednesday January 29th.

FG to receive new $321m Abacha loot from Island of Jersey


Malami revealed that based on the Memorandum of Understanding reached by the three parties, the repatriated loot would be used to finance key projects such as the Lagos-Ibadan Expressway, the 2nd Niger Bridge and the Kadu-Kano Expressway.

The Minister added that €6.8m which was traced to convicted former Governor of Delta State, James Ibori, would also be repatriated although negotiations are yet to start on the Ibori loot.

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