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Tag: Abacha Loot

$311m Abacha Loot From US and Bailiwick of Jersey Received By FG
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$311m Abacha Loot From US and Bailiwick of Jersey Received By FG

The Federal government has received $311,797,866.11, the third tranche of the former head of state, late General Sani Abacha loot, from the United States and the Bailiwick of Jersey. Attorney-General of Federation and Minister of Justice, Abubakar Malami, disclosed this in a statement released today May 4 by his Special Assistant on Media and Public Relations, Dr Umar Gwandu. According to Malami, the amount increased significantly from over $308 million mentioned in an earlier statement in February to over $311million as a result of the interest that accrued from February 3 to April 28, when the fund was transferred to the Central Bank of Nigeria. Malami said the latest recovery would support and assist in expediting the construction of three major infrastructu...