The President Muhammadu Buhari-led Federal Government, is set to receive another late General Sani Abacha loot, as Ireland disclosed that it has reached an agreement with Nigeria, to return the late Military Dictator’s frozen funds in the country, .
Abacha, who ruled Nigeria between 1993 and 1998, allegedly misappropriated and diverted over $1 billion loot to different countries across the world.
Some of the assets have been recovered by Nigeria, thanks to the Criminal Assets Bureau, CAB, which took part in an international operation, which also uncovered approximately €5.5 million, kept by the late Abacha, in his Dublin-based bank account.
According to reports, the money which was frozen in October 2014, will now be released, following an application by the Nigerian government in 2019, to a High Court, mandating the return of the looted funds, subject to a Memorandum of Understanding, MoU, between the two nations.
Speaking on the development, Helen McEnte, the Minister of Justice in Ireland, said that the planned return of the funds will validate his country’s commitment towards peaceful coexistence among international communities.
The Memorandum of Understanding, signed by the two countries, is in line with Ireland’s international obligations as a signatory to the United Nations, UN, Convention Against Corruption.
More news later…
