Malami Rejects Allegations of a $2.4 billion Loss from Crude Oil Sale to China.

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Abubakar Malami, the Attorney General of the Federation (AGF) and Minister of Justice, has refuted reports that the alleged unlawful sale of 48 million barrels of crude oil exported to China in 2015 cost the nation over $2.4 billion in income.

The Federation’s Chief Legal Officer, Malami, characterized the accusations as meritless, unjustified, and lacking in substance. “The minister added that the asset recovery account, which is housed at the Central Bank of Nigeria (CBN), was made possible thanks in part to the efforts of the OAGF.

These include $15.4 million in Abacha Loot recovered from Switzerland in 2020, $311.4 million from the US and UK, and $322 million recovered from Switzerland,  £12.2 billion recovered from Ibori; $20 million recovered from Licosta as well as £954 recovered from Diepreye Solomon Peter Alamieyeseigha, respectively.

Therefore, disclosure the details of whistle blowers at a public hearing breaches the confidentiality provision of which the office of the attorney general was committed to on on the account of personal security and the national security. Malami explained that the details of international account, expenditure, statement of accounts are obtainable from the Central Bank of Nigeria. in 2016.


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