The federal government is poised to sign a memorandum of understanding for the repatriation of $321 million loot traced for late Head of State, General Sani Abacha.
This followed the approval, on Wednesday by the meeting of the Federal Executive Council (FEC), of an asset tripartite sharing agreement among Nigeria, the Island of Jersey and the United States.
The Attorney General of the Federation and Minister of Justice, Abubakar Malami, revealed this while briefing State House correspondents after the meeting presided over by President Muhammadu Buhari.
He said the discussion was also on concerning the repatriation of money seized from former Delta state governor, James Ibori; former minister of Petroleum, Deizani Allison-Maduekwe and her associate, Kola Aluko.
The Attorney General said even though the Abacha money is domiciled in the Island of Jersey, the United States will be involved in its repatriation process because it is denominated in US dollars.
Malami said both the US and the Island of Jersey will receive $10 million as administrative charges.
He said the money should be repatriated in about two months.
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Malami recalled that President Buhari has already approved that the recovered fund be applied to the Lagos-Ibadan expressway, Abuja-Kano road and the 2nd Niger Bridge projects.
He said: “It is in line with that spirit of aggressive recovery of looted assets that the office of attorney general has been pursuing the recovery of looted assets. We have overtime been discussing with other jurisdictions including the Island of Jersey and the United States along for the purpose of the repatriation of looted assets connected to Abacha family, Diezani Alison-Madueke, Kolawole Aluko among others.
It is within this context that we have now come to terms with this jurisdiction – the Island of Jersey, United States of America and indeed Nigeria by way of negotiating for the repatriation of sizable assets.
“As it is, we have concluded on the understanding that the sum of $321 million will be repatriated in due course inclusive of James Ibori assets as well.
“So, we are hopeful that by next week we will sign the agreement for the looted assets.
“The assets that are going to be repatriated is located and in the custody of Island of Jersey. But the United States of America came on board because it has obtained an order for forfeiture against the assets, considering that the medium of exchange used in the looting the assets is the US dollar.
“Arising from that the three jurisdictions will naturally be factored into the repatriation processes.
“So, the amount upon signing the MOU will be remitted from the Inland of Jersey within a number of days agreed upon. Within 28 days, the money will be repatriated from the Island of Jersey to the United States of America and thereafter within 45 days, it is agreed by the parties that the United States of America will make the necessary arrangement for the eventual repatriation to the Nigerian state.”
He further explained: “The immediate figure for repatriation as relates to the agreement expected to be signed next week is $321 million.
“The government has given a commitment that the proceeds of the looted recovery should be applied to Lagos-Ibadan expressway, Abuja-Kano road and the 2nd Niger Bridge.
“The $321 million expected to be repatriated is attached to Abacha and is named Abacha loot.
“As it relates to James Ibori, the expected amount is €6,863,977.12. But the repatriation of same is being negotiated and processed.
“In respect of Diezani Alison-Madueke, Kolawole Aluko, what is on the ground is a yacht, known as Galactica Star. It has been sold. The proceed is yet to be fully agreed upon. So, we will disclose the amount when it is finally agreed upon.”
In a separate development, the federal government has also issued a travel advisory following the ongoing coronavirus crisis.
The Minister of Health, Osagie Ehanire, said during the briefing on the outcome of FEC that intending travellers to China have been asked to put off their trips until further notice.
The minister said anybody that arrives from China should self-isolate him/herself for two weeks even if they show no symptoms of the virus.
He also urged airline pilots to report before landing any passenger onboard their aircraft who manifest the symptoms of coronavirus.
Ehanire states: “In view of the trending stories around the Coronavirus, it has become very necessary to issue a travel advisory to Nigerians.
“The first is that all Nigerians and all persons from Nigeria intending to travel to China should delay all their travel plans until further notice, except it is extremely essential for them to do that trip.
“All persons arriving from China or any country that has a major outbreak is advised, if they have no symptoms at all, to self-isolate, meaning that they stay indoors in their homes for at least two weeks and if they develop any symptoms, like cough, catarrh, sneezing, breathing difficulties within this period, to report to the nearest health facility.
“We are also advising all airlines to report any case of a passenger falling sick on-board before the plane lands. That is a requirement in the agreement.
“Nigerian Port Health Services, Nigeria Centre for Disease Control are on alert at our airports and other points of entry. That is the advisory.”
Also speaking at the briefing, the Minister of Transport, Rotimi Amaechi said FEC has approved a contract for the development of software for e-ticketing for the railway system worth N900 million.
Minister of Works and Housing, Babatunde Fashola, gave FEC a performance report of his ministry.
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