November 18, (THEWILL) – The United States has repatriated over $20.6 million worth of assets linked to the late Former Military Head of State, General Sani Abacha and his associates, to the Nigerian government.
A press statement issued on Thursday, by the US Department of Justice (DoJ), said the repatriation is “in accordance with an Aug. 23 agreement between the governments to repatriate assets the United States forfeited that were traceable to kleptocracy of the former Nigerian dictator.”
It added that “The forfeited assets represent corrupt monies laundered during and after the military regime of General Abacha, who became head of state in Nigeria through a military coup on Nov. 17, 1993.”
The transfer of funds ultimately stems from a 2014 judgement in the District of Columbia, ordering the forfeiture of approximately $500 million worth of assets linked to the former dictator.
The case was brought under the Kleptocracy Asset Recovery Initiative by prosecutors in the Criminal Division’s Money Laundering and Asset Recovery Section, in partnership with the FBI.
The case alleged that “General Abacha, his son Mohammed Sani Abacha, their associate, Abubakar Atiku Bagudu, and others embezzled, misappropriated and extorted billions of dollars from the government of Nigeria and others”, the statement said.
Under the agreement, the United States agreed to transfer 100% of net forfeited assets to Nigeria for use in three critical infrastructure projects approved by the Nigerian legislature and President Muhammadu Buhari.
In 2020 the Department of Justice repatriated over $311.7 million in forfeited assets to Nigeria.
The latest transfer brings the total amount repatriated in the case to approximately $332.4 million.
