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 Tuggar, appealed in his remarks at the 6th Session of the Nigeria-US Bi-National Commission in Abuja emphasizing the need for increased support from the U.S, citing $308 million as insufficient compared to Nigeria’s losses from illegal fund transfers over the years.
Tuggar reiterated that the Nigerian government is commitment to utilising these funds for the collective benefit of its citizens, including infrastructure development, focusing on projects such as roads, schools, education, and other vital sectors requiring substantial investment.
On February 3, 2020, the Government of Jersey, Nigeria and the U.S. government entered into an Asset Recovery Agreement to repatriate over $308 million of forfeited assets laundered through the US banking system by the former Head of State of Nigeria, General Sani Abacha.
