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Ireland to return 5.5 mln euros in Abacha loot to Nigeria - statement

Published 14/08/2020, 16:55
Ireland to return 5.5 mln euros in Abacha loot to Nigeria - statement

LAGOS, Aug 14 (Reuters) - Ireland has reached a deal to give
back to Nigeria 5.5 million euros ($6.5 million) looted by
former military dictator Sani Abacha, Nigeria's justice minister
said in a statement.
The money is the latest Abacha-linked cash reclaimed by
Nigeria. Corruption watchdog Transparency International
estimates that Abacha, who ruled Africa's biggest oil producer
from 1993 until his death in 1998, stole as much as $5 billion
of public money during that time.
He was never charged with corruption in his lifetime.
"The return of these assets will be the first time that
Ireland has taken such action and will be a concrete
demonstration of Ireland's commitment to international
cooperation in the fight against corruption," Helen McEntee,
Ireland's Minister for Justice and Equality, said in a
statement.
Ireland froze the funds in October 2014 as part of an
international operation that froze more than $1 billion
worldwide, the statement said.
The agreement comes as Nigeria scrambles for cash to fill
holes that have opened up in its budget as the coronavirus
pandemic hammers oil prices. In May, Nigeria received just over $300 million in Abacha
funds from the United States and the British dependency of
Jersey, despite concerns raised by a powerful U.S. senator that
it could be misappropriated. ($1 = 0.8452 euros)

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