During the 6th Session of the Nigeria-US Bi-National Commission in Abuja on Monday, the Federal Government urged the United States to repatriate more illicit funds that were transferred from Nigerian officials through its banking system.
Minister of Foreign Affairs Yusuf Tuggar made this appeal, represented by Adamu Lamuwa, the Permanent Secretary of the Ministry of Foreign Affairs.
Tuggar emphasized the inadequacy of the $308 million repatriated thus far compared to Nigeria’s losses from illegal fund transfers over the years.
He reaffirmed the Nigerian government’s dedication to using these funds for the collective welfare of its citizens, as per agreements with development partners.
The allocated funds are earmarked for infrastructure development, with a focus on projects encompassing roads, educational facilities, schools, and other critical sectors requiring significant investment.
The Permanent Secretary expressed gratitude for the outcomes of the Democratic National Convention held in February 2020 in Washington, DC. During this event, the governments of Nigeria, the United States, and Jersey entered into a tripartite agreement to repatriate over $308 million of stolen funds back to Nigeria.
He further stressed the importance of increased efforts by the United States, noting that the $308 million repatriated amount appears meager when considering the substantial resources lost by Nigeria over the years due to illicit fund transfers.
Lamuwa underscored the Nigerian government’s commitment to utilizing these funds for the collective welfare of all citizens, in accordance with agreements made with development partners. The primary focus is on infrastructure development, particularly in critical areas such as roads, educational institutions, and other sectors of the economy in need of substantial investment.
He emphasized that this year’s theme, “Partnership for Mutual Benefit and Development,” holds significant relevance and urgency, especially given the imperative for collaborative efforts. Strengthening ties between these two major democracies carries the potential for a more robust partnership, fostering peace, prosperity, and progress not only within Africa but on a global scale.
In her address, Assistant Secretary for African Affairs, Molly Phee, underscored the pivotal role of security cooperation in the Nigeria-U.S. partnership.
Phee emphasized the indispensable link between security and prosperity, highlighting the risks posed to human rights in the absence of security. She underscored the collaborative efforts aimed at addressing Nigeria’s complex security challenges, which include terrorism, banditry, and piracy, all of which pose significant threats to its populace.
She stated, “Security cooperation is a vital component of our partnership. Insecurity jeopardizes prosperity and undermines human rights. Together, we are addressing Nigeria’s wide-ranging security issues, including terrorism, banditry, and piracy, which threaten its people.”
“The U.S. is dedicated to assisting Nigeria in developing more capable, professional, and accountable security forces, all while upholding human rights and fundamental freedoms, including those of religious minorities.”
According to a statement on the United States Embassy and Consulate in Nigeria’s website dated February 3, 2020, the Governments of Jersey, Nigeria, and the U.S. government signed an Asset Recovery Agreement to repatriate over $308 million in forfeited assets to Nigeria.
The money was laundered through the US banking system before being deposited into bank accounts in Jersey under the name of Doraville Properties Corporation, a BVI company, and the son of Nigeria’s former Head of State, General Sani Abacha.
The statement further mentioned, “General Abacha and his associates illicitly acquired and laundered hundreds of millions of dollars of public funds during his military rule, severely impacting the prospects of his citizens.
“The funds were laundered by his family, which included his sons Ibrahim and Mohammed, as well as several close associates. This laundering scheme extended to various jurisdictions in the United States and Europe, including the UK, France, Germany, Switzerland, Liechtenstein, and Luxembourg.”
Additionally, on January 16, 2024, it was reported that a Royal Court in Jersey, Channel Islands, had ruled for the repatriation of stolen assets valued at £6.9m ($8.9m) to Nigeria.
The assets in question were purportedly redirected by Nigerian government officials in 2014, allegedly under the pretext of procuring arms to combat Boko Haram insurgents.
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