Ireland has signed a agreement to return €5.5 million ($6.5 million) to Nigeria stolen by the former military leader, Sani Abacha.

Ireland's Minister for Justice and Equality, Helen McEntee, said the Memorandum of Understanding followed a recent order released by a court in the European nation about the funds.

In 2014, the Ireland Criminal Assets Bureau froze the loot on request from the then President's office, Goodluck Jonathan.

“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.

“The Criminal Assets Bureau took part in this international operation which led to the freezing of over $1bn in funds worldwide, of which approximately €5.5m was identified in a Dublin-based bank account.

“The return of these assets will be the first time that Ireland has taken such action and will be a concrete demonstration of Ireland’s commitment to international cooperation in the fight against corruption and to assisting countries which have been adversely affected by corruption in the past, and is in line with our international obligations as a signatory to the UN Convention Against Corruption,” she said.

The money is the latest Abacha-linked cash reclaimed by Nigeria.

Corruption watchdog, Transparency International, estimates that Abacha, who ruled from 1993 until his death in 1998, stole as much as $5bn of public money during that time.

SOURCE: SaharaReporters