Ireland Signs Agreement With Nigeria To Return Frozen Abacha Funds

Ireland has reportedly reached an agreement with the Nigerian government to return funds misappropriated by the nation’s former leader, the late Gen. Sani Abacha.

Abacha ruled Nigeria from 1993 until his death in 1998 and over the years, funds overseas which are credited to him have been returned back to the nation.

The Criminal Assets Bureau (CAB) took part in an international operation linked to the case, leading to the freezing of over $1 billion of assets worldwide, of which approximately €5.5 million was identified in a bank in Dublin, Ireland.

The funds were frozen in the Irish bank by CAB in October 2014, and following an application by the Nigerian authorities last year, the High Court gave an order providing for the return of these assets to Nigeria, subject to a Memorandum of Understanding (MoU) among the two governments.

According to the Minister of Justice in Ireland, Helen McEntee, the return of the assets would be “a concrete demonstration” of Ireland’s commitment to international cooperation in the fight against corruption.