The Federal Executive Council (FEC) on Wednesday approved the signing of an agreement with the Island of Jersey and the United States of America for the repatriation of $321m stolen assets recovered from the former military ruler, late Gen. Sani Abacha.
Malami disclosed that the recovered funds will be expended on Lagos-Ibadan Expressway, Abuja-Kano road and the 2nd Niger Bridge respectively.
“It is in line with that spirit of aggressive recovery of looted assets that the office of attorney general has been pursuing the recovery of looted assets,” Malami said.
“We have overtime been discussing with other jurisdictions including the Island of Jersey and the United States for the purpose of the repatriation of looted assets connected to Abacha family, Diezani Alison-Madueke, Kolawole Aluko among others.
“As it is, we have concluded on the understanding that the sum of $321 million will be repatriated in due course inclusive of James Ibori assets as well.
So the amount upon signing the MOU will be remitted from the Inland of Jersey within a number of days agreed upon.
“Within 28 days, the money will be repatriated from the Island of Jersey to the United States and thereafter within 45 days, it is agreed by the parties that the United States of America will make the necessary arrangement for the eventual repatriation to the Nigerian state. Theguardianng