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You Will Return Abacha Loot If Stolen Again, US Warns Nigeria

The US on Tuesday announced that it is set to send a new batch of Abacha loot valued at $321m.

However, this is not without a strong warning that the country will be in trouble if the said sum is stolen again.

This was contained in a statement that was released by spokesperson for the US State Department, Morgan Ortagus.

“The funds will be used by the Nigerian Independent Sovereign Authority for three infrastructure projects in strategic economic zones across Nigeria.

“To ensure that the funds are used responsibly and for the good of the nation, the agreement includes mechanisms for monitoring the implementation of these projects as well as external oversight, and it requires Nigeria to repay any funds lost as a result of any new corruption or fraud to the account established to hold the returned assets.

“This return reflects the growing international consensus that countries must work together to ensure stolen assets are returned in a transparent and accountable manner.”

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