MALABU OIL SCAM: Nigeria expecting $200m from Netherlands, Switzerland —Malami 

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, said on Tuesday the Federal Government was awaiting the repatriation of $200 million from The Netherlands and Switzerland as part of funds recovered from the Oil Prospecting License (0PL) 245 scam.

Malami stated this while declaring open a capacity building workshop and interactive session with Judiciary Correspondents in Abuja.

He said: “Due to the anti-corruption crusade of the present administration, we facilitated the recovery of $62 billion arrears from oil companies as part of the federal government Production Sharing Agreement (PSA).

“Also recovered within the period is the sum of $311million from the United States and New Jersey, in the third phase of Abacha loot and another $6.3 million Abacha loot from the Republic of Northern Island.”

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Malami said the money had been paid into the federal government treasury for the development of critical projects including the Lagos- Ibadan Expressway, Kano-Abuja Expressway and the Second Niger Bridge in line with the agreement reached with foreign partners.

The AGF added that over N685 million was recovered through the help of whistleblowers within the last one year while N500 million was recovered from forfeited vessels, trucks, and barges.

He said a legal framework introduced by the ministry had helped to raise stamp duty collection from N22 billion over the years to N66 billion within the last six months of the act amendment.

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