U.S to repatriate $300m Abacha loot to Nigeria, says Buhari

President Muhammadu Buhari on Tuesday disclosed that Nigeria and the United States of America would sign a memorandum to repatriate US$300m looted by former Head of State, Late Gen. Sani Abacha.

Nigeria had received over $2 billion out of the $5 billion believed to have been looted during the Abacha administration

The president, in his Independence Day broadcast, said a memorandum of understanding will be signed by Nigeria and the US for another $300 million (about N108 billion) of the money looted to be sent back to Nigeria.

He said: “The US$300 million was recently identified as part of the Abacha money-laundering case.

The Federal Ministry of Justice is working with the U.S. Department of Justice to conclude a memorandum of understanding to expedite the repatriation of these funds”, Buhari explained.

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