February 21, 2020

Repatriated funds earmarked for critical projects – Presidency


Garba Shehu


Johnbosco Agbakwuru – Abuja

The Presidency said on Friday night that all the funds repatriated back to Nigeria have been earmarked for identified critical projects across the country in accordance with the agreement.

The Presidency in a statement signed by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, said it would be willing to give the needed clarification on any matter around a recent tripartite agreement between Nigeria, the United States and the Island of Jersey.

Reports had said the President Muhammadu Buhari administration was planning to dispense part of the repatriated $308 million traced to the late maximum ruler,  Sani Abacha, outside the agreement with the other two signatories to the pact.

However, the Presidency has insisted that the Buhari administration would stick to agreements and stay true to its anti-corruption crusade, adding that the government’s agreed spending plans are very much intact.

The statement read: “We have a lot more money to recover oversees and no one has the right to complicate things for the government of our country.

“The United States and the British crown dependency of Jersey have agreed with the President and government of Nigeria to repatriate $308 million funds connected to former Nigerian military ruler, Gen. Sani Abacha, the three governments said.

“By a decision of this government, the entire sum will be paid to the Nigerian Sovereign Investment Authority, (NSIA) and will be used in expediting the construction of the three major infrastructure projects across Nigeria – namely Lagos – Ibadan Expressway, Abuja – Kano Expressway and the Second Niger bridge.

“The position of the Buhari administration is still the same on this.

“The Embassy of the United States may be approached for any clarification on the agreement already reached by the three parties.”