Wednesday, January 27, 2016

FG to Receive $750m Abacha Loot – AGF

Attorney General of the Federation and Minister of Justice, Abubakar Malami on Tuesday, January 26 stated that the Federal Government is set to receive an additional $750 million loot of former military Head of State, Sani Abacha.
Malami disclosed this during an interactive session with the House of Representatives Committee on Justice, adding that his ministry is also aiming to recover £6.9m of James Ibori former Delta State Governor.
“In respect of of the recovery of looted assets, the ministry will engage in an agreed waive policy of using Mutual Legal Assistance Agreements or other bilateral and multilateral instruments to seek cooperation with other jurisdictions to ensure the repatriation of illicitly-acquired assets in foreign jurisdictions.
“The collaboration will equally involve the engagement of foreign-based Counsel to attend to matters on behalf of the federal Government. Low-hanging fruits being targeted in this initiative include $750m ‘Abacha loot’ as well as the sum of GBP 6.9m of the ‘Ibori loot’.
“In the long run, the ministry will be in a position to coordinate the recovery of Billions of Dollars in foreign jurisdictions, based on current estimations.”
While commenting on the the Insurgency faced by the country, Malami said, “My ministry is currently processing approximately 800 terrorism cases for prosecution .
“The resources required for the successful prosecution of these cases as well as the general coordination of the Criminal Justice Sector as envisaged under the ACIA, were fully captured in the original proposal made by the ministry to the Ministry of Finance, “he added.