NIGERIA COULD HAVE TO ‘REPLACE’ $300 MILLION ABACHA LOOT IF MISUSED

On 30 April, Reuters reported that Nigeria must use money repatriated from funds looted by former military ruler General Sani Abacha on agreed public projects or be forced to “replace” it, the US DoJ has said.  The US and Jersey agreed with the Nigerian government in Febuary to return $300 million that Abacha, who died in 1998, had stashed in their banks. Nigeria has pledged to use it to develop road infrastructure.

https://www.reuters.com/article/usa-nigeria-corruption-idUSL8N2CI8QA

 

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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