Malami Confirms Receipt Of $370m Abacha Loot From Swiss Govt

The $370 Abacha loot earlier negotiated with the Swiss authorities is in the kitty of Central Bank of Nigeria, Federal Government has confirmed.

Abubakar Malami, the Attorney General of the Federation and Minister of Justice, who stated this did not say how much was involved in the new round of discussion.

Meanwhile, top officials of Federal Government, United Kingdom, United States of America and Jersey met Monday to work out the final modalities for return of $500 million Abacha loot frozen by the American government.

The meeting, which was held at the Nigerian High Commission in London, was attended by Abubakar Malami, the Attorney General of the Federation and Minister of Justice, Justice George Oguntade, Nigeria’s High Commissioner to the United Kingdom, lawyers engaged by Nigeria to recover assets abroad and justice department officials from the U.S, the UK, and Jersey.

It will be recalled that the US had obtained an international forfeiture order against the funds stashed away by the late head of state, Sani Abacha, in many countries following his death; but is now willing to lift the embargo following series of discussions to enable Nigeria to repatriate the cash for its use.

Malami told Vanguard in an exclusive interview from London that Nigeria had agreed to sign a Memorandum of Understanding with the UK, U.S and Jersey on the return of the cash to the country.

The Justice Minister said, “At our meeting in London today, we reviewed the MoU to be signed by Nigeria, the U.S, UK and Jersey and made collective input into it so that at our next and final meeting in July we can sign the document and agree on the final draw down of the money.

“Indeed, Nigeria has made tremendous progress regarding the repatriation of the cash. Right now, the case filed by a Nigerian lawyer claiming to be entitled to a huge percentage of the amount from the Abacha loot has been dismissed by the Appeal Court but he can still appeal if he wants to.

READ ALSO:  Naira Dips To Pound, Euro Rises

“But our strong conviction is that the money will be drawn down for the benefit of the country and we are working hard to ensure that it is done as soon as possible by taking the necessary legal and diplomatic steps to deal with it,” Malami said.

After the London meeting, Malami proceeded to Switzerland to have another round of discussion with officials of the Swiss government in respect of another Abacha loot repatriation.