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Nigeria Signs MoU To Recover 321 Million Dollars Stashed Away In Swiss By Treasury Looters – Malami

Minister of Justice, Malami Abubakar
Minister of Justice, Malami Abubakar

The Nigerian Attorney General and Minister of Justice, Abubakar Malami has announced that Nigeria has moved to sign a Memorandum of Understanding with Swiff for the recovery of the sum of 321 Million Dollars which Nigerian looters stashed in that country.
Malami said, when he briefed news men today, Wednesday, on the outcome of the Federal Executive Council (FEC) meeting: “we are in agreement substantially, with Swiss, for the recovery of additional sum of 321million dollars. That memorandum of understanding has been substantially agreed between Nigeria and Swiss. We intend to now execute or to sign off the agreement during the Global Assets Recovery Forum taking place in December, in US, which is on assets recovery coming up in December.
He said that a memo he raised, seeking the approval of the council to allow him to sign the agreement on behalf of the Government of the Federation of Nigeria, was approved.
The memo, he added, also seeks to develop an instrument of ratification which would give him the powers to ensure the repatriation of the funds.
The implication of which is that the MoU as negotiated between Nigeria and Swiss has been agreed and ratified by council and then the Attorney General has been mandated to execute the agreement that will see to the repatriation of the 321million dollars and added to it to develop the instrument of ratification that will be expected from both sides of the device which will constitute the basis for the signing of the agreement in December in US during the global forum on assists recovery.
It would be recalled that about a week ago, Nigeria succeeded in recovering 85 million dollars relating to Malabu issues from U.K. [myad]