Ireland To Return ₦2.5Billion Abacha Loot
The Government of Ireland has signed a Memorandum of Understanding with Nigeria that will see to the repatriation of stolen funds to the tune of €5.5 million.
This is according to a statement by the Department of Justice and Equality on Thursday.
The money is part of the $5 billion stolen by the late Head of State, Gen. Sani Abacha, between 1993 and 1998.
The Minister for Justice and Equality, Helen McEntee said, “I am very pleased to sign this Memorandum of Understanding between Ireland and Nigeria. This represents the culmination of a long process which began with an internationally led investigation.
“The Criminal Assets Bureau took part in this international operation which led to the freezing of over $1 bn in funds worldwide, of which approximately €5.5 million was identified in a Dublin based bank account.
“The assets misappropriated by the late Gen. Sani Abacha, former Head of State of Nigeria , were frozen in a bank account in Ireland by the Criminal Assets Bureau in October 2014.
Following an application by the Nigerian authorities last year, the High Court has recently made an order providing for the return of these assets to Nigeria.”