U.S. to repatriate over $500m stolen funds to Nigeria

The visit of President Muhammadu Buhari to U.S. has yielded the finalisation of negotiations to repatriate more than 500 million dollars (about N190 billion) of Nigeria’s looted money traced to the U.S.

 

Nigeria’s Attorney-General and Minister of Justice, Abubakar Malami, told the Correspondent of the News Agency of Nigeria (NAN) in Washington, DC, that he and the Attorney-General of the U.S. would be meeting on Tuesday to finalise the agreement.

 

Malami explained that the technicalities involved were being taken care of by both officials of the Nigerian Governments and also from the U.S. side.

 

He said, “On the part of assets recovery, we have made considerable progress through this visit.

 

“There’s goodwill by the two presidents to have a road map for the repatriation of illicit funds and assets traced to the U.S. as proceeds of illicit transactions.

 

“This illicit funds and assets are to the tune of 500 million dollars and above for immediate repatriation.

 

“We are looking at the shortest practicable time for it to be repatriated.”

 

-NAN

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