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US Govt says there is additional $319m (N121bn) Abacha loot in the United Kingdom and France



The United States says there is a separate $319m (N121bn) stolen funds by late General Sani Abacha in the United Kingdom and France.

The news comes barely, a week after helping to repatriate $311m (N118bn) stolen by the late Head of State.

The US Embassy in Nigeria said in a statement on Wednesday that there is $167m in stolen assets in France while there is a separate $152m in the UK which is being challenged in court.

The statement read in part, “The funds returned last week are distinct and separate from an additional $167m in stolen assets also forfeited in the United Kingdom and France, as well as $152m still in active litigation in the United Kingdom.”

Meanwhile, the US has said the $311m that was repatriated to Nigeria last week must be used by the Nigeria Sovereign Investment Authority for three infrastructure projects in strategic economic zones across Nigeria, as authorised by the Nigerian government.

The recovered funds will help finance the construction of the Second Niger Bridge, the Lagos-Ibadan Expressway, and the Abuja-Kano road, the US said.

The agreement includes mechanisms for monitoring the implementation of these projects as well as external oversight.

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