Federal Govt. set to finalise process for return of $321m looted money – SSA


The Presidency on Monday says that Nigerian Government is concluding plans, latest by December, with the Switzerland Government for the repatriation of $321 million looted from Nigeria.

Mrs Juliet Ibekaku, Senior Special Assistant to President Muhammadu Buhari on Justice Reforms made the disclosure at the Conversation on Anti-corruption Campaign organised by the Centre for Democratic Development (CDD) in Abuja.

She said that before now, Nigeria had no agreement or Memoranda of Understanding with foreign countries for the return of looted money.

The development she necessitated why it took Nigeria awhile to initiate the process of discussion and recovery at the international level.

“So far, we have recovered part of the Malabu fund held by the UK courts.

“We are also working to finalise the process for the return of $321million and by December, we are going to sign the MoU for the return of the money held in Switzerland.

“I am happy to also note here that some Civil Society Organisations (CSOs) working in the area of asset recovery were involved in the negotiation of the MOU and will be involved in monitoring the assets.

“This is to ensure that the returned funds are managed in a transparent manner as other recovery plans continue in countries like UK, Island of Jersey and France,’’ she said.

Ibekaku said that the Federal Government had also opened up discussion with the US government for the return of the money that left that country for two or three years from 2013.


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