Abacha loot: 17 Organization indicates interest to monitor utilisation of $311m

 At least Seventeen organisations have indicated interest in monitoring the spending of nearly 311million dollars, repatriated Abacha loot.

Attorney-General of the Federation and Minister of Justice, Abubakar Malami, had confirmed the receipt of 311million dollars of the Abacha assets repatriated from the United States and the Bailiwick of Jersey.

  It was also reported that United States and the British dependency of Jersey agreed with the Nigerian government in February to return 300 million dollars that Sani Abacha, a dictator who died in 1998, had stashed in their banks.

This is significant as Nigeria continues efforts to repatriate money allegedly stolen during General Abacha’s tenure as Head of State of Africa’s biggest oil producer, from 1993 until his death in 1998.

Nigeria has pledged to use it to develop road infrastructure.

On the 5th of May, the presidency released a statement on how it will apply the 311 million dollars returned to Nigeria, and said the money will go to completing infrastructure projects in the country.

In its bid to ensure transparency and probity in the utilisation of the recovered funds, the federal government through the ministry of Justice opened bids for consultancy services on monitoring the implementation of Abacha loot.

Civil Society Organisations who are engaged, will be part of a project monitoring team to oversee the implementation of the projects and report regularly on progress made to the public.

The consultancy services are to undertake the monitoring of the implementation of the tripartite agreement on the sharing, transfer, disposition, repatriation and management of the forfeited Abacha 111 assets.