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FG Will Not Reloot $311M Abacha loot -Presidency Explains

FG Will Not Reloot $311M Abacha loot -Presidency Explains

The Nigerian Presidency has on Tuesday said it will not reloot nor misuse the $311Million recovered from the Late former Head of State, Gen. Sanni Abacha.

This information by IssuesNg was disclosed in a statement issued by the Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu in Abuja.

Recall that $311Million Abacha Loot was repatriated yesterday by the US Government in New Jersey.

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According to Garba Shehu, the recovered Abacha Loot will be allocated for the development of infrastructure across the country.

He also noted that recovered $311Million has already been allocated to vital project as well as decades-overdue infrastructures in the country like the second Niger Bridge, the Lagos-Ibadan and Abuja-Kaduna-Kano expressways and the Mambilla Power Project.

He went further to explain that the $320Million recovered Abacha loot in 2019 from Switzerland was used for grain grants and free school feeding programs while some were used in the fight against COVID-19 and creation of over 10,000 jobs in the country.

The statement reads in part:

”On Monday, May 4, 2020, some $311 million US Dollars – stolen from the citizens of Nigeria during the Abacha regime were safely returned to our country from the United States.

“These funds have already been allocated, and will be used in full, for vital and decades-overdue infrastructure development: The second Niger Bridge, the Lagos-Ibadan and Abuja-Kaduna-Kano expressways – creating tens of thousands of Nigerian construction jobs and local skills, which can then be useful in future projects.

“Part of the funds will also be invested in the Mambilla Power Project which, when completed, will provide electricity to some three million homes – over ten million citizens – in our country.

” The receipt of these stolen monies – and the hundreds of millions more that have already been returned from the United Kingdom and Switzerland – are an opportunity for the development of our nation, made far harder for those decades the country was robbed of these funds.

“Indeed, previous monies returned last year from Switzerland – some $320 million US dollars – are already being used for the government’s free school feeding scheme, a stipend for millions of disadvantaged citizens, and grain grants for those in severe food hardship.”



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