Nigeria Reaches Deal for Repatriation of $500 Million of Stolen Funds

Justice Minister and Attorney General Abubakar Malami has made it overtly clear that Nigeria has agreed a deal with some foreign countries for the repatriation of $500 million in public funds stolen by officials at any level.

Different countries including the U.S., the U.K. and France are helping to return the funds, Malami told reporters on Wednesday in the capital, Abuja. “We are almost concluding the processes,” he said.

Under terms agreed with the U.S., specific projects have been identified to which the funds will be committed when returned to the West African country, according to the minister.

A former Nigerian military ruler General Sani Abacha, who died in 1998, is alleged by the authorities to have siphoned more than $3 billion to foreign bank accounts, which are still being traced and returned to Nigeria.

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