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Consultancy Service To Monitor Abacha Loot

The Federal Ministry of Justice on Thursday opened technical bids for Consultancy Service to monitor the implementation of Abacha loot, and Mrs Ladidi Mohammed, Head, Asset Recovery and Management Unit, Ministry of justice declared open the bidding process.

According to the agreement stated on Febuary 3 by the Nigeria government
‘`This Agreement is based on international law and cooperation measures that set out the procedures for the repatriation, transfer, disposition and management of the assets”.
“The government is committed to supporting and assisting in expediting the construction of the three major infrastructure projects across Nigeria in the agreement.

“The projects are the Lagos – Ibadan Expressway, Abuja–Kano Road, and the Second Niger Bridge,’’ she stated.
This plan is to ensure that government work in line with the plan stipulated.

This is to ensure transparent management of the returned assets’’.

According to NANS report NAN reports that the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, had on May 4, confirmed the receipt of 311,797,866.11 million dollars of the Abacha assets repatriated from the U.S. and the Bailiwick of Jersey.

Malami stated, “the amount increased from over 308 million US dollars mentioned in the press release issued in February to 311,797,866.11 million dollars following the accrued interest from Feb. 3 to April 28 when the funds were transferred to the Central Bank of Nigeria’.

“These recoveries are transparently and judiciously deployed in supporting indigent Nigerians as specified in the agreement signed with the Switzerland and the World Bank.”

“In line with the 2020 Asset Return Agreement, the fund has been transferred to a Central Bank of Nigeria Asset Recovery designated account and would be paid to the National Sovereign Investment Authority (NSIA) within the next fourteen days.

“The NSIA is responsible for the management and execution of the projects to which the funds will be applied’’.

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