FG Recovers $85m From UK On Malabu Oil Deal


    The Federal Government says it has recovered $85million from the United Kingdom as part of the stolen funds from the Malabu Oil deal.
    The Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami, disclosed this on Thursday during a consultative meeting on assets recovery in Abuja.

    Malami, however, decried the non-compliance attitude of some countries that are still holding on to stolen assets.

    “I am also pleased to announce that Nigeria has recovered the sum of $85m on the Malabu fund from the UK.

    “Therefore, I wish to use this forum to reiterate the need for the international community to ensure implementation of mergers considered and adopted at the London Anti-Corruption Summit in May 2016,” he said while soliciting the cooperation of the international community in the fight against corruption.

    The Justice Minister also lamented the attitude of some countries perceived not to be giving Nigeria the needed support.

    He added, “It is fortunate to state at this point that recovery and repatriation of our stolen wealth searched approach continues to be very tedious in spite of several bi-lateral and multi-lateral agreements entered into between Nigeria and other jurisdictions.

    “Even when the provisions of the United Nations Convention against corruption obliged states parties to facilitate the return of stolen assets to victim states, countries including Nigeria are still dealing with some challenges.

    “My office has also put in place necessary machinery to hold bilateral talks with countries of interest during the Global Forum on Asset Recovery. These countries include United Kingdom, United States of America, Canada, Switzerland, South Africa, Panama, United Arab Emirates, Northern Ireland, Gambia among others.

    The AG however reiterated the resolve of the government to recover more funds, having signed several treaties to facilitate the return of stolen assets.