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According to report, Ireland has reached a deal to give back to Nigeria

€5.5m ($6.5 million) looted by former military dictator, Sani Abacha.

Helen McEntee, Ireland Minister of Justice and Equality, said the

memorandum of understanding followed an order recently issued

by a court in the European country regarding the funds.

The Ireland Criminal Assets Bureau froze the loot in 2014 under

request from the administration of then President, Goodluck Jonathan.

“I am very pleased to sign this Memorandum

of Understanding between Ireland and Nigeria.

This represents the culmination of a long

process which began with an internationally led investigation.

“The Criminal Assets Bureau took part in this

international operation which led to the freezing


of over $1bn in funds worldwide, of which

approximately €5.5m was identified in a

Dublin-based bank account.

“The return of these assets will be the first time

that Ireland has taken such action and will be a

concrete demonstration of Ireland’s commitment

to international cooperation in the fight against

corruption and to assisting countries which have

been adversely affected by corruption in the past,

and is in line with our international obligations

as a signatory to the UN Convention Against Corruption,” she said.

The money is the latest Abacha-linked cash reclaimed by Nigeria.

Corruption watchdog, Transparency International, estimates that Abacha,

who ruled from 1993 until his death in 1998, stole

as much as $5bn of public money during that time.


Source; PUNCHNEW

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