$311m Abacha loot already allocated – Presidency

By our reporter| The Presidency on Tuesday said the $311m looted by late dictator, Sanni Abacha, and returned to Nigeria from the United States and the Bailiwick of Jersey, has already been allocated.

Presidential spokesman Garba Shehu, who made the disclosure in a statement on Tuesday said the repatriated funds would be used in full, for “vital and decades-overdue infrastructure development” including the second Niger Bridge, the Lagos-Ibadan and Abuja-Kaduna-Kano expressways as well as the Mambilla Power Project.

According to the statement, the receipt of the stolen monies is an opportunity for the development of the nation.

The statement read in part, “Indeed, previous monies returned last year from Switzerland – some $320 million US dollars – are already being used for the government’s free school feeding scheme, a stipend for millions of disadvantaged citizens, and grain grants for those in severe food hardship.

“Without these funds, the fight against COVID-19 would be even tougher.

“The latest return is a testament to the growing and deepening relationship between the government of Nigeria and the government of the United States.

“Without cooperation both from the UK Government, the US Executive branch and US Congress, we would not have achieved the return of these funds at all.”

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