U.S. repatriates looted N190bn Nigerian money traced to America

U.S. repatriates looted N190bn Nigerian money traced to America

- The United States of America has finalised negotiations to repatriate more than $500 million (about 190 billion naira) of Nigeria’s looted money

- The attorney-general and minister of justice, Abubakar Malami, noted that the technicalities involved were being taken care of by both officials of the Nigerian government and U.S

The visit of President Muhammadu Buhari to U.S. president, Donald Trump, has yielded the finalisation of negotiations to repatriate more than $500 million (about 190 billion naira) of Nigeria’s looted money traced to the U.S.

Nigeria’s attorney-general and minister of justice, Abubakar Malami, told the correspondent of the News Agency of Nigeria (NAN) in Washington, DC, that he and the Attorney-General of the U.S. would be meeting on Tuesday to finalise the agreement.

Malami explained that the technicalities involved were being taken care of by both officials of the Nigerian governments and also from the U.S. side.

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He said: “On the part of assets recovery, we have made considerable progress through this visit. 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."

Malami defended Nigeria’s human rights record, saying the Buhari’s administration is the first in the history of Nigeria to pay compensation for human rights violations.

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In a previous report by NAIJ.com, President Muhammadu Buhari visited the US for a bilateral meeting with President Donald Trump.

The president had a bilateral meeting with his American counterpart on Monday, April 30 before their press conference.

President Trump commended President Buhari for the success recorded in the fight against corruption.

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Source: Naija.ng

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