Several other tranches of the Abacha loot, which are proceeds from public coffers stashed away by the military administration of late General Sani Abacha in the 1990s had been recovered by the NIgerian government.
In 2020, the US and Jersey also agreed to return over $308 million in confiscated funds to Nigeria. Also, about $723 million in Abacha loot was returned to Nigeria from Switzerland in 2006.
The US, in a statement signed by its Department of Justice, said the latest tranche will increase the total amount forfeited to approximately $334.7 million.
“In 2014, U.S. District Judge John D. Bates for the District of Columbia entered a judgment 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 the proceeds of Abacha’s corruption.
“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 U.K. government enforced the U.S. judgment against the additional $23 million.”
“This repatriation of $23 million reflects the Justice Department’s unwavering commitment to recover and return corruption proceeds laundered through the U.S. financial system,” said Assistant Attorney General Kenneth A. Polite, Jr. of the US Justice Department’s Criminal Division”, the US said in the statement.