Politics

$311m Abacha loot already allocated – Presidency

The Presidency says the $311m stolen during the Abacha regime and returned to Nigeria from the us and therefore the Bailiwick of Jersey, on Monday, May 4, 2020, has already been allocated.

This was contained during a statement released on Tuesday by Garba Shehu, spokesperson to the President, Major General Muhammadu Buhari (retd.).

Shehu said the repatriated funds would be utilized in full, for “vital and decades-overdue infrastructure development” including the second Niger Bridge, the Lagos-Ibadan and Abuja-Kaduna-Kano expressways also because the Mambilla Power Project.

He said the receipt of the stolen monies is a chance for the event of the state .

“Indeed, previous monies returned last year from Switzerland – some $320 million US dollars – are already getting used for the government’s free school feeding scheme, a stipend for many disadvantaged citizens, and grain grants for those in severe food hardship.

“Without these funds, the fight against COVID-19 would be even tougher.

“The latest return may be a testament to the growing and deepening relationship between the govt of Nigeria and therefore the government of the us .

“Without cooperation both from the united kingdom Government, the US Executive Office of the President and Congress , we might not have achieved the return of those funds in the least ,” he said.

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