Abacha Loot: Total Repatriation From US Hits $332 Million

The United States Department of Justice said it has transferred over $20.6 million to the Federal Government of Nigeria as part of the loot traced to former Nigerian military leader General Sani Abacha and his co-conspirators.

The US DoJ, in a statement on Thursday, said the fresh repatriation brings the total amount forfeited and returned by the United States in this case to approximately $332.4 million.

In 2014, a judgment was entered in the District of Columbia ordering the forfeiture of approximately $500 million located in accounts around the world, as the result of a civil forfeiture complaint for more than $625 million traceable to money laundering involving by Abacha, who became Nigeria’s Head of State through a military coup on November 17, 1993, and held that position until his death on June 8, 1998.

In 2020, the department repatriated over $311.7 million of the forfeited assets that had been located in the Bailiwick of Jersey. Last year, the UK government enforced the US judgment against the additional over $20.6 million.

The US government said the repatriation was in accordance with an August 23 agreement between both governments to repatriate assets the United States forfeited from Abacha.

-Channelstv