Malami
FG discovers additional looted $200m funds abroad
The Federal Government says it has discovered the sum of $200m which is part of money stashed away abroad by corrupt public officials and will soon repatriate the money back to Nigeria.
Abubakar Malami, Attorney-General of the Federation and Minister of Justice, disclosed this on Tuesday in New York, U.S., at the 2021 annual public lecture organized by the Centre for Media and Peace Initiative.
A statement issued by his Special Assistant on Media and Public Relations, Umar Gwandu, however, said the repatriation of the $200million is subject to the settlement of litigations by the ministry.
“Additional recoveries to the tune of $200million are being anticipated subject to the settlement of litigations of which the Ministry of Justice is attending to presently.
“The Buhari’s approach to fight against corruption has been one of three cardinal pillars of our campaign promises, the others are economic and security development,” the statement quoted Malami as saying.
The minister stressed that the successes recorded by President Muhammadu Buhari in asset recovery could be a template for other African countries in the fight against corruption.
“Various steps have been taken in terms of legislative frameworks, the establishment of institutions and policy measures targeted at combating corruption, regional corporation and ensuring good governance for the benefit of the citizens.
“In 2017, the signing of a trilateral agreement with Switzerland and World Bank enabled the recovery of $322.515million.
“In 2020 a total sum of $311.7million was returned to Nigeria after signing another trilateral agreement with the US and Bailiwick of Jersey.
“Also in the year 2020, 5.4million Euros was recovered in March emanating from an agreement signed with Northern Island. The Federal Government was able to recover from the United Kingdom the sum of €4,214,017.66 connected to the family of James Ibori,” the minister said.
