Break down on how $311m Abacha loot returned ‘ll be spent — Presidency

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President Mohammadu Buhari Aides on Tuesday said that  $311m abacha loot returned by United State of America and Jersey has been allocated for infrastructure development in the country.

The Presidency specifically said that the recently returned funds have already been allocated for vital and decades-overdue infrastructure development like the second Niger Bridge, the Lagos-Ibadan and Abuja-Kaduna-Kano expressways and in the Mambilla Power Project.

This was disclosed in a statement issued by the Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu in Abuja.

The statement titled, “The return of the Abacha stole millions from the United States and Jersey ” noted that the latest returned money and the ones before it was a testament to the growing and deepening relationship between the government of Nigeria and the government of the United States.

READ ALSO: The Presidency Confirms Allocation of $311m Abacha loot

It read in part,” On Monday, May 4, 2020, some $311 million US Dollars – stolen from the citizens of Nigeria during the Abacha regime – were safely returned to our country from the United States.

These funds have already been allocated, and will be used in full, for vital and decades-overdue infrastructure development: The second Niger Bridge, the Lagos-Ibadan and Abuja-Kaduna-Kano expressways – creating tens of thousands of Nigerian construction jobs and local skills, which can then be useful in future projects.

“Part of the funds will also be invested in the Mambilla Power Project which, when completed, will provide electricity to some three million homes – over ten million citizens – in our country.

” The receipt of these stolen monies – and the hundreds of millions more that have already been returned from the United Kingdom and Switzerland – are an opportunity for the development of our nation, made far harder for those decades the country was robbed of these funds.

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

Continuing, the Presidency said, “Without these funds, the fight against Covid-19 would be even tougher.

“The latest return is a testament to the growing and deepening relationship between the government of Nigeria and the government of the United States.

ALSO READ: Abacha Loot: US lawmakers oppose the return of $320m Abacha loot fund to Nigeria

“Without cooperation both from the UK Government, the US Executive branch and US Congress, we would not have achieved the return of these funds at all.”

The Presidency said that for years many countries deemed successive Nigerian administrations as too corrupt, too venal and too likely to squander and re-steal the stolen monies – so they did not return the funds.

It, however, said,” Today, US, UK and other jurisdictions have found the partnership with the nation of Nigeria they can finally trust.

” The Buhari Administration is committed to – and is enacting – total and zero tolerance to corruption in politics and public administration.

“The days when the government was seen and used by the political class as their personal ATM to empty are over.

“The time of better governance and clean hands in the affairs of state is here to stay.”

The Presidency also said that part of the returned loot in 2019 was being used for grain grants and free school feeding programs, adding that without the returned Abacha funds, the fight against Covid-19 would be even tougher.

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