Finally Nigeria will recover $750m Abacha's loot, £6.9m James Ibori's embezzlement - Minister of Justice reveals

          The Attorney-General of the Federation, AGF and Minister of Justice, yesterday, disclosed that the Federal Government is set to embark on the recovery of additional $750m(Abacha's loot) and £6.9m James Ibori misappropriated Fund.

   The Minister, Mr. Abubakar Malami who announced this during an interactive session with the House of Representatives Committee on Justice in Abuja said that the ministry will engage in an agree waive policy of using Mutual Legal Assistance Agreements or other bilateral and multilateral instruments to seek cooperation with other jurisdictions to ensure the repatriation of illicitly- acquired assets in foreign jurisdictions.

“In respect of of the recovery of looted assets, the ministry will engage in an agree waive policy of using Mutual Legal Assistance Agreements or other bilateral and multilateral instruments to seek cooperation with other jurisdictions to ensure the repatriation of illicitly- acquired assets in foreign jurisdictions.

He also added that:

“The collaboration will equally involve the engagement of foreign- based Counsel to attend to matters on behalf of the Federal Government. Low- hanging fruits being targeted in this initiative include $750 million ‘Abaca loot’ as well as the sum of GBP 6.9 million of the ‘Ibori loot’.

“On the long run, the ministry will be in a position to coordinate the recovery of billions of Dollars in foreign jurisdictions, based on current estimations.”