President Muhammadu Buhari on Tuesday acknowledged the repatriation of over $311 million Abacha loot from the United States and Jersey. The president also declared that the recovered funds have already been allocated to various projects in the country.
President Buhari in a statement on Tuesday by the Senior Special Assistant on Media and Publicity, Garba Shehu, admitted that on Monday, May 4, 2020, some $311 million – stolen from the citizens of Nigeria during the Abacha regime – were safely returned to the country from the United States.
The president said that the funds have already been allocated, and will be used in full for vital and decades-overdue infrastructure development: He said that the second Niger Bridge, the Lagos-Ibadan and Abuja-Kaduna-Kano expressways – creating tens of thousands of Nigerian construction jobs and local skills, which can then be useful in future projects are given priority.
He added that part of the funds will also be invested in the Mambilla Power Project which, when completed, will provide electricity to some three million homes – over 10 million citizens – in the country.
“The receipt of these stolen monies – and the hundreds of millions more that have already been returned from the United Kingdom and Switzerland – are an opportunity for the development of our nation, made far harder for those decades the country was robbed of these funds.
“Indeed, previous monies returned last year from Switzerland – some US$320 million – 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 President said.
The President in self-praise said that “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 the 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.”
The president narrated that for years, many countries deemed successive Nigerian administrations as too corrupt, too venal and too likely to squander and re-steal the stolen monies – so they did not return the funds.
He added that, today, US, UK and other jurisdictions have found the partnership with the nation of Nigeria they can finally trust.
It added his administration is committed to – and is enacting – total and zero tolerance to corruption in politics and public administration.
“The days when government was seen and used by the political class as their personal ATM to empty are over.
“The time of better governance and clean hands in the affairs of state is here to stay,” the president declared.