The Nigerian Government has called upon the United States to repatriate additional illicit funds channeled through its banking system by Nigerian officials.

Minister of Foreign Affairs, Yusuf Tuggar made the appeal during the 6th Session of the Nigeria-US Bi-National Commission in Abuja on Monday.

Tuggar, represented by Adamu Lamuwa, the Permanent Secretary of the Ministry of Foreign Affairs, stressed the significance of increased U.S. assistance, noting that the $308 million returned thus far is inadequate compared to Nigeria’s cumulative losses from illegal fund transfers.

He reaffirmed the Nigerian government’s dedication to leveraging these funds for the collective welfare of its citizens, consistent with agreements with development partners.

Notably, the funds are earmarked for infrastructure development, prioritizing projects such as roads, schools, education, and other critical sectors in need of significant investment.

The Perm. Sec. said, “I would like to appreciate the fallout of the Democratic National Convention held in February 2020 in Washington, DC. The governments of Nigeria, the United States, and Jersey signed a tripartite agreement to return to Nigeria the sum of over $308 million of funds stolen from the country.

“I would also urge the U.S. to do more because $308 million is a meagre amount when you look at the resources that Nigeria has lost over the years due to illegal transfers of funds from the country.

“The Nigerian government has committed to using these funds for the benefit of all Nigerians, as agreed with development partners. These funds are aimed at developing infrastructure, particularly projects in roads, schools, education, and other sectors of the economy that require this substantial return.”

Lamuwa underscored the significance and timeliness of this year’s theme, ‘Partnership for Mutual Benefit and Development,’ stressing the urgent necessity for collaborative efforts.

He emphasized that strengthening ties between two major democracies holds potential for a more robust partnership, fostering peace, prosperity, and advancement not only in Africa but globally.

In her address, Assistant Secretary for African Affairs, Molly Phee emphasized the pivotal role of security cooperation in the Nigeria-U.S. partnership.

Phee emphasized that without security, the pursuit of prosperity becomes arduous and human rights are jeopardized.

She underscored the collaborative endeavors aimed at addressing Nigeria’s multifaceted security challenges, including terrorism, banditry, and piracy, which pose significant threats to its populace.

She said, “Security cooperation is another crucial aspect of our relationship. Without security, prosperity will be elusive and human rights threatened. Together, we are working to address the broad security challenges facing Nigeria, terrorism; banditry and piracy threaten its people.

“The U.S. is committed to helping Nigeria build more capable, professional and accountable security forces while ensuring respect for human rights, and fundamental freedoms, including for religious minorities.”

Recall that on February 3, 2020, the Government of Jersey, Nigeria, and the U.S. government finalized an Asset Recovery Agreement, aiming to repatriate over $308 million of forfeited assets to Nigeria.

According to a statement released on the website of the United States Embassy and Consulate in Nigeria, the funds were laundered through the U.S. banking system and subsequently held in bank accounts in Jersey under the name of Doraville Properties Corporation, a BVI company, and the son of former Head of State of Nigeria, General Sani Abacha.

The statement further elaborated, stating, ‘General Abacha and his associates stole and laundered many hundreds of millions of dollars of public money during his military regime, causing significant harm to the futures of his people.

The illicit funds were reportedly laundered by General Abacha’s family, including his sons Ibrahim and Mohammed, along with several close associates.

This laundering operation spanned across various jurisdictions, including the United States and European countries such as the UK, France, Germany, Switzerland, Liechtenstein, and Luxembourg.

Furthermore, on January 16, 2024, a Royal Court in Jersey, Channel Islands, purportedly ruled for the repatriation of stolen assets valued at £6.9 million ($8.9 million) back to Nigeria.

These assets were allegedly diverted by Nigerian government officials in 2014, under the pretext of purchasing arms to combat Boko Haram terrorists.