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Restitution agreements: The United States will reimburse Nigeria $23 million

25/08/2022
Categories: Economy/Forex

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At an agreement signing event, officials announced on Tuesday, August 23, 2022 that the United States will give Nigeria $23 million. This sum was taken by the former military leader Sani Abacha.

Several agreements have been reached by Nigeria to return money stolen in recent years. Indeed, the former soldier Sani Abacha was the leader of the most populous nation in Africa and the first oil exporter in 1993. He died in 1998, a period during which Transparency International estimated that he had taken up to $5 billion in public money.

Mary Beth Leonard, American ambassador, said that he had been identified and frozen by American officials and that the money was in accounts British. According to him, the United States had agreed to repatriate more than 334.7 million dollars linked to Abacha only by including the latest agreement. According to Attorney General Abubakar Malami, the funds would be used under the supervision of the Nigerian Sovereign Investment Authority (NSIA) for infrastructure projects, namely the Abuja-Kano road, the Lagos-Ibadan highway, and the Niger Second Bridge.

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