The Government of Ireland has signed a Memorandum of Understanding with Nigeria that will see to the repatriation of stolen funds to the tune of €5.5 million.
This is according to a statement by the Department of Justice and Equality on Thursday.
The money is part of the 5 billion dollars stolen by the late Head of State, General Sani Abacha.
The Minister for Justice and Equality, Helen McEntee, said, she was pleased to sign the MoU, which she noted represents the culmination of a long process that began with an internationally led investigation.
The Criminal Assets Bureau took part in the international operation and it led to the freezing of over 1 billion dollars in funds worldwide, of which approximately €5.5 million was identified in a Dublin based bank account
The misappropriated assest by the late Gen. Sani Abacha, former Head were frozen in a bank account in Ireland by the Criminal Assets Bureau in October 2014. Due to an application by the Nigerian authorities last year, the High Court has recently made an order providing for the return of these assets to Nigeria.
The minister said, the return of these assets would be the first time Ireland has taken such action and will be a concrete demonstration of Ireland’s commitment towards international cooperation in the fight against corruption.
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