Abacha money: Nigeria to receive GHC 1.6 billion from US

Abacha money: Nigeria to receive GHC 1.6 billion from US

- The United States has agreed to repatriate over $300m worth of assets to Nigeria

- The money will used for infrastructure projects in Nigeria

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The United States will be repatriating over GHC1.6 billion to Nigeria.

The money is proceeds from assets of Nigeria’s former president Sani Abacha which he stolen and hid in the US.

Sani Abacha stole millions of dollars from Nigeria while he was President between 1993 and 1998.

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The Nigeria state made a complaint in 2014 and all his property and bonds in US have been forfeited.

The former Nigerian military leader, and his associates embezzled billions from the government of Nigeria, then laundered the money through US financial institutions.

According to the BBC, the repatriation of the money is part of an agreement between Nigeria, US and Jersey.

The money will used to support infrastructure projects in Nigeria.

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Meanwhile, Nigeria’s department of justice says it’s still trying to recover an additional $174m dollars from the UK and France.

READ ALSO: Ghanaians jab Mahama over banking sector cleanup promise

Mr Abacha came into power through a military coup in 1993 and led the country until his death in 1998.

YEN.com.gh earlier former Attorney General Marietta Brew Appiah-Oppong has denied claims that aircraft manufacturer, Airbus paid bribes to some senior officials during the Mills-Mahama regime.

The reports which emerged after the company admitted in a UK court that it paid bribes to officials in some five countries including Ghana between 2009 and 2015 have ignited rumours in Ghana.

A section of the public has dared the NDC which was governing at that time to respond to the claims.

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Source: Yen Newspaper

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