On November 17th. 2022, the US Department of Justice declared that it had transferred over $20.6 million to the government of the Federal Republic of Nigeria (Nigeria) following the August 23rd, 2022 agreement between the governments to repatriate assets the United States forfeited that were traceable to former Nigerian General Sani Abacha and his accomplices.
With this repatriation, the amount of money that the United States has forfeited and returned in this case totals approximately $332.4 million. According to the complaint filed in the case, General Abacha, his son Mohammed Sani Abacha, their associate Abubakar Atiku Bagudu, and other individuals embezzled, misappropriated, and extorted billions of dollars from the government of Nigeria and other parties, then laundered their illicit gains through US financial institutions and transactions.
Under the terms of the August agreement, the US pledged to transfer 100% of the net forfeited assets to Nigeria in order to finance three development projects previously approved by President Muhammadu Buhari and the Nigerian legislature. Due to the fluctuations in the exchange rate between British pounds sterling and US dollars, the $20,637,622.27 is a slight reduction from the $23 million declared to be repatriated in August. The funds governed by this agreement will contribute to the financing of the Second Niger Bridge, the Lagos-Ibadan Expressway, and the Abuja-Kano road, investments that will benefit the people of each of these significant Nigerian regions.
Additional information can be accessed on:https://justice.gov/opa/pr/united-states-repatriates-over-20-million-assets-stolen-former-nigerian-dictator#