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UK to release $83M to Nigeria

After many years of legal fireworks, the United Kingdom has given the final clearance for Nigeria to draw down a whopping $85million seized from entities embroiled in the controversial Malabu Oil scam.


The Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, who confirmed the development yesterday in Abuja, said the money was not yet in the coffers of Nigeria but would soon be repatriated.


Malami said: “Final judicial order for the remittance of the money to the Federal Government of Nigeria was granted by the UK’s court on Friday and the money is now due for remittance any moment from now. The $85 million is what remains in the UK courts funds office after years of legal wrangling.


Nigeria’s Solicitor-General, Dayo Apata, attended the court hearing, saying “we are very happy about this ruling. It has been a long road but there is light at the end of tunnel.


From Vanguard

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