Nigeria has successfully recovered at least $5 billion in assets over the past 25 years, comprising cash, jewelry, and other valuables smuggled abroad.
The announcement was made by Auwal Musa Rafsanjani, Director of the Nigerian Civil Society Legislative Advisory Centre (CISLAC), during a press briefing on Wednesday.
The recovery efforts were conducted under the framework of the “Common African Position on the Recovery of Assets from Nigeria,” an initiative to return assets illicitly moved overseas. CISLAC remains committed to identifying and reclaiming Nigerian assets that were smuggled abroad without official registration.
Significant portions of these recovered funds have been returned by Switzerland and the United States, with over $3.6 billion repatriated since 1998.
Efforts to recover funds smuggled by General Sani Abacha, Nigeria’s former head of state from 1993 to 1998, have been central to these operations.
Abacha allegedly embezzled around $5 billion during his rule, much of which was hidden in foreign banks.
