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Why We Haven’t Returned Nigeria’s $300m Loot – US

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Why We Haven’t Returned Nigeria’s $300m Loot – US

Why We Haven’t Returned Nigeria’s $300m Loot – US

Why We Haven’t Returned Nigeria’s $300m Loot – US – The United States government has said it cannot give a specific date when Nigeria’s stolen money stashed abroad will be returned to the country.

This was disclosed by the US Embassy in Lagos,  Nigeria.

According to a popular daily, the Deputy Public Affairs Officer at the US Consulate General, Frank Sellin said recovering the $300m and other assets stolen from Nigeria will not be easy.

“In regard to asset recovery, the United States has and will continue to support Nigeria’s efforts to recover assets stolen from the Nigerian people. As you know, investigation of complex international money laundering and corruption, including the identification and recovery of assets, can be challenging and time consuming, particularly when legal challenges and numerous banks and jurisdictions are involved,”

Sellin reportedly said.

Because the processes or asset recovery are complex and involve litigation in different jurisdictions, he said the US “cannot provide a precise timeline on recovery of assets.”

He, however, noted that the recovery required cooperation between Nigerian and foreign security agencies, “both through law enforcement information sharing and more formal requests for mutual legal assistance.”

 

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