Ireland has signed a memorandum of understanding with the federal government to return €5.5 million looted by Sani Abacha, the late head of state, to Nigeria.
Helen McEntee, Ireland minister of justice and equality, said the MoU followed an order recently issued by a court in Ireland regarding the funds.
Ireland Criminal Assets Bureau was said to have frozen the loot in 2014 where it was kept in an Ireland bank account.
“I am very pleased to sign this Memorandum of Understanding between Ireland and Nigeria. This represents the culmination of a long process which began with an internationally led investigation,” McEntee said in a statement on Thursday.
“The Criminal Assets Bureau took part in this international operation which led to the freezing of over $1 billion in funds worldwide, of which approximately €5.5 million was identified in a Dublin based bank account.
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