BEVERLY HILLS, August 15, (THEWILL) – The Republic of Ireland has agreed to return about N2,514,651,800 (€5.5 million) stolen by the Nigerian former head of state, General Sani Abacha to Nigeria.
The agreement was reached during the signing of a memorandum of understanding by Ireland Minister of Justice and Equality, Helen McEntee, following an order issued by a court in Ireland regarding the funds.
“The return of these assets will be the first time that Ireland has taken such action and will be a concrete demonstration of Ireland’s commitment to international cooperation in the fight against corruption,” Helen McEntee, said in a statement.
According to Helen McEntee, the MoU to return the loot was achieved by significant multi-agency collaboration in Ireland, adding: “It demonstrates the intent of both States to uphold our shared values and our international obligations to eliminate corruption.”.
Ireland froze the funds in October 2014 as part of an international operation that froze more than $1 billion worldwide.
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In May, Nigeria received just over $300 million in Abacha funds from the United States and the British dependency of Jersey, despite concerns raised by a powerful U.S. senator that it could be misappropriated.
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