SAN FRANCISCO, May 01, (THEWILL) – The United States is finalising plans to repatriate more than $500 million (about N190 billion) looted money to Nigeria.
This was revealed by the Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami, in Washington, saying that he and the Attorney-General of the U.S. were meeting, to finalise the agreement.
Malami explained that the technicalities involved were being taken care of by officials of the Nigerian and U.S. Governments
“On the part of assets recovery, we have made considerable progress through this visit,” he said.
“There’s goodwill by the two presidents to have a road map for the repatriation of illicit funds and assets traced to the U.S. as proceeds of illicit transactions.
“This illicit funds and assets are to the tune of 500 million dollars and above for immediate repatriation.
“We are looking at the shortest practicable time for it to be repatriated. There is political commitment demonstrated by the two presidents.
“The over 500 million dollars is not all the recovery, it is only for the immediate repatriation while we continue with our efforts to recover more.
“One thing I can tell you is that investigation is ongoing and the numbers keep changing with time. But as far as the immediate negotiations with the US is a concern, it is a figure between $500 million and above.
“That is what is on the table immediately for discussions.”
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