FG’ll recover $750m Abacha loot soon — Minister

THE Federal Government yesterday said that it would soon embark on the recovery of additional $750 million said to be “Abacha loot” yet pending.
The Attorney-General of the Federation, AGF, and Minister of Justice, Mr. Abubakar Malami disclosed this during an interactive session with the House of   Representatives Committee on Justice in Abuja.

The Minister further stated that his ministry was aiming at recovering on behalf of the Federal Government £6.9 million said to have been misappropriated by a former governor of Delta State, James Ibori.
He said: “In respect of  the recovery of looted assets, the ministry will engage in an agree waive policy of using Mutual Legal Assistance Agreements or other bilateral and multilateral instruments to seek cooperation with other jurisdictions to ensure the repatriation of illicitly- acquired assets in foreign jurisdictions.
“The collaboration will equally involve the engagement of foreign- based Counsel to attend to matters on behalf of the Federal Government. Low- hanging fruits being targeted in this initiative include $750 million ‘Abaca loot’ as well as the sum of GBP 6.9 million of the ‘Ibori loot’.
“On the long run, the ministry will be in a position to coordinate the recovery of billions of Dollars in foreign jurisdictions, based on current estimations.”