The Federal Government has appealed to the United States of America to repatriate more illicit funds transferred from Nigerian officials through its banking system.<\/p>\n
The Minister of Foreign Affairs, Yusuf Tuggar, appealed in his remarks at the 6th Session of the Nigeria-US Bi-National Commission in Abuja on Monday.<\/p>\n
Speaking at the event, Ambassador Tuggar, represented by the Permanent Secretary, Ministry of Foreign Affairs, Adamu Lamuwa emphasised the need for increased support from the U.S., citing $308 million as insufficient compared to Nigeria\u2019s losses from illegal fund transfers over the years.<\/p>\n
He reiterated the Nigerian government\u2019s commitment to utilising these funds for the collective benefit of its citizens, in line with agreements with development partners.<\/p>\n
Specifically, the funds would be allocated to infrastructure development, focusing on projects such as roads, schools, education, and other vital sectors requiring substantial investment.<\/p>\n
The Perm. Sec. said, \u201cI would like to appreciate the fallout of the Democratic National Convention held in February 2020 in Washington, DC. The governments of Nigeria, the United States, and Jersey signed a tripartite agreement to return to Nigeria the sum of over $308 million of funds stolen from the country.<\/p>\n
\u201cI would also urge the U.S. to do more because $308 million is a meagre amount when you look at the resources that Nigeria has lost over the years due to illegal transfers of funds from the country.<\/p>\n
\u201cThe Nigerian government has committed to using these funds for the benefit of all Nigerians, as agreed with development partners. These funds are aimed at developing infrastructure, particularly projects in roads, schools, education, and other sectors of the economy that require this substantial return.\u201d<\/p>\n
Lamuwa emphasised that the theme for this year, \u201cPartnership for Mutual Benefit and Development,\u201d held particular relevance and timeliness given the pressing need for such collaboration, adding that as two major democracies, bolstering ties between these nations holds promise for an even more robust partnership, fostering peace, prosperity, and advancement not only in Africa but globally.<\/p>\n
The U.S. Deputy Secretary of State, Kurt Campbell, highlighted the pivotal role of security cooperation in the Nigeria-U.S. partnership.<\/p>\n
Campbell, represented by the Assistant Secretary for African Affairs, Molly Phee, stressed that without security, achieving prosperity becomes challenging and human rights are endangered, while underscoring the joint efforts aimed at tackling Nigeria\u2019s multifaceted security challenges, including terrorism, banditry, and piracy, which pose significant threats to\u00a0its\u00a0population.<\/p>\n
She said, \u201cSecurity cooperation is another crucial aspect of our relationship. Without security, prosperity will be elusive and human rights threatened. Together, we are working to address the broad security challenges facing Nigeria, terrorism; banditry and piracy threaten its people.<\/p>\n
\u201cThe U.S. is committed to helping Nigeria build more capable, professional and accountable security forces while ensuring respect for human rights, and fundamental freedoms, including for religious minorities.\u201d<\/p>\n
On February 3, 2020, as contained in a statement on the website of the United States Embassy and Consulate in Nigeria, the Government of Jersey, Nigeria and the U.S. government entered into an Asset Recovery Agreement to repatriate over $308 million of forfeited assets to Nigeria.<\/p>\n
The funds were laundered through the US banking system and then held in bank accounts in Jersey in the name of Doraville Properties Corporation, a BVI company, and the name of the son of the former Head of State of Nigeria, General Sani Abacha.<\/p>\n
The statement added, \u201cGeneral Abacha and his associates stole and laundered many hundreds of millions of dollars of public money during his military regime, doing vast harm to the futures of his people.<\/p>\n
\u201cThe monies were laundered by his family, including his sons Ibrahim and Mohammed, and several close associates. The laundering operation extended to the United States and European jurisdictions such as the UK, France, Germany, Switzerland, Lichtenstein and Luxembourg.\u201d<\/p>\n
Also, on January 16 2024, a Royal Court in Jersey, Channel Islands, reportedly ruled that stolen assets worth \u00a36.9m ($8.9m) be repatriated to Nigeria.<\/p>\n
The said assets were allegedly diverted by Nigerian government officials in 2014 under the guise of purchasing arms to fight Boko Haram terrorists.<\/p>\n
The Federal Government has appealed to the United States of America to repatriate more illicit funds transferred from Nigerian officials through its banking system. The Minister of Foreign Affairs, Yusuf…<\/p>\n","protected":false},"author":1,"featured_media":111621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-111620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n