Abacha’s Loot: FG Repatriates $311M from Tripartite Agreement
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Abacha’s Loot: FG Repatriates $311M from Tripartite Agreement: The Money Handed Over to Nigeria Sovereign Investment Authority for further development of the nation’s infrastructure
The Federal Government on Sunday confirmed receiving a whooping sum of $311M from the lately General Sani Abacha offshore account, this money has since been handed over to Nigeria Sovereign Investment Authority
The repatriation came as result of a joint agreement between three parties, the Nigerian Government, the United States and the Bailiwick of Jersey earlier in 2020
Positive response started coming in, after when the three parties agreed on a common ground to retrieve the late general’s loot to the nation- a move a lot of Nigerians applauded
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The Money has since been deposited into the Nigeria Sovereign Investment Authority for infrastructural development in the country
According to Nairametric, the $311M has been channeled to investment projects in many parts of the country, like the Abuja-Kaduna-Zaria-Kano
“This was revealed by the Federal Government after the inspection of the ongoing reconstruction of the Abuja-Kaduna-Zaria-Kano dual carriageway by the Finance Minister, Zainab Ahmed; Minister of Works and Housing, Babatunde Fashola and the Chief of Staff to the President, Prof. Ibrahim Gambari.
“Ahmed stated at the inspection that the issue of infrastructure funding had been addressed because the Finance Ministry had given $650 million to Nigeria Sovereign Investment Authority, whose responsibility is to generate additional funds to ensure that Abuja-Kaduna-Zaria-Kano dual carriageway & other designated projects are fully funded”