The federal government has approved the reclaiming of looted assets from the United States.

The agreement on the repatriation of looted funds is expected to be signed next week while the looted assets of $321 million allegedly belonging to late General Sani Abacha are also expected to be repatriated from the Island of Jersey.

During the FEC meeting, the AGF Malami said that other assets to be repatriated include that of former Minister for Petroleum Resources, Diezani Alison-Madueke, Kolawole Aluko and James Ibori, who was governor of Delta State from 1999 to 2007 put at €6.6 million.

The Minister explained that after the tripartite agreement is signed, it will take 28 days for the money to be transferred from Jessie Island to the US and it will take 45 days for the money to be transferred from the US to the Nigerian government after due diligence.


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