Abubakar Malami, the Minister of Justice and Attorney General of the Federation, has stated that Nigeria is awaiting the repatriation of $200million from the Netherlands and Switzerland.
The money is from the Oil Prospecting Licence 245 deal.
Shell and Eni had acquired the rights to OPL 245, a Nigerian offshore oil block. But the $1.3billion deal had drew a lot of legal cases.
The AGF who spoke at the opening of a capacity building worship and interactive session with judiciary correspondents in Abuja, noted that his ministry had facilitated the recovery of $62billion arrears from oil companies as part of the Federation Government’s Production Sharing Agreement.
“Also recovered within the period is the sum of $311m from the US and New Jersey, in the third phase of Abacha loot and another $6.3m Abacha loot from the Republic of Northern Ireland,” Malami said (as reported by the News Agency of Nigeria).
The AGF noted that the money would be used for development such as the Lagos – Ibadan Expressway, the Kano – Abuja Expressway, and the Niger Bridge in line with the agreement reached with the foreign partners.
Malami also revealed that his ministry had recovered N685million through the help of whistleblowers within the last one year, while N500million was recovered from forfeited vessels, trucks and barges.
He also noted that the legal framework introduced by his ministry had helped raised stamp duty collection from N22billion to N66billion within six months, adding that some other bills when approved and passed into law by the National Assembly would help stimulate the economy.
Ogbodo ThankGod is currently the Managing Director/CEO/Group Chief Editor at Naija Buzz News Network. He was the Chief Editor at NaijaBuzz.News before his new top leadership role. Ogbodo has years of experience in the Nigeria Media Industry and has co-founded some media companies. He is the founder of Ogbodo Solution Nigeria and 1Push.Ng. He loves playing football and is a strong supporter of Lionel Messi who he describes as the greatest footballer of all time.