The Nigerian government has made an appeal to the United States of America, urging them to repatriate additional illicit funds that were transferred from Nigerian officials through the U.S. banking system.
Speaking at the 6th Session of the Nigeria-US Bi-National Commission in Abuja, the Minister of Foreign Affairs, Yusuf Tuggar, emphasized the necessity for increased support from the U.S. He stated that the previously repatriated sum of $308 million is insufficient when compared to the magnitude of Nigeria’s losses resulting from illegal fund transfers over the years.
Ambassador Tuggar, represented by the Permanent Secretary of the Ministry of Foreign Affairs, Adamu Lamuwa, reiterated the Nigerian government’s commitment to utilizing the repatriated funds for the collective benefit of its citizens in accordance with agreements made with development partners. The allocated funds will primarily focus on infrastructure development, with an emphasis on projects such as roads, schools, education, and other vital sectors requiring substantial investment.
Expressing gratitude for the tripartite agreement signed between Nigeria, the United States, and Jersey during the Democratic National Convention held in February 2020, Lamuwa further urged the U.S. to do more in the repatriation efforts. He highlighted that the $308 million recovered thus far represents a small fraction compared to the significant resources lost by Nigeria due to illegal fund transfers. Lamuwa emphasized that the returned funds will be directed towards infrastructure development, including projects in critical sectors of the economy.
The theme for this year’s event, “Partnership for Mutual Benefit and Development,” holds particular relevance and timeliness, according to Lamuwa. He stressed the importance of collaboration between Nigeria and the United States, as two major democracies, and the potential for fostering peace, prosperity, and advancement not only in Africa but globally.
During the session, Assistant Secretary for African Affairs, Molly Phee, underscored the crucial role of security cooperation in the Nigeria-U.S. partnership. Phee emphasized that security is essential for achieving prosperity and safeguarding human rights. She highlighted the joint efforts between the two nations in addressing Nigeria’s multifaceted security challenges, including terrorism, banditry, and piracy, which pose significant threats to the Nigerian population.
In February 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 to Nigeria. These funds had been laundered through the U.S. banking system and held in bank accounts in Jersey, under the names of Doraville Properties Corporation, a BVI company, and the son of former Nigerian Head of State, General Sani Abacha.
Furthermore, in a recent ruling by a Royal Court in Jersey, Channel Islands, stolen assets worth £6.9 million ($8.9 million) were directed to be repatriated to Nigeria. These assets were allegedly diverted by Nigerian government officials in 2014 under the pretext of purchasing arms to combat Boko Haram terrorists.
