President Ben Shelly signed the cooperative agreement for the Land Buy-Back Program for Tribal Nations. Seated is Bureau of Indian Affairs Regional Director Sharon Pinto. Photo by Rick Abasta

The Navajo Nation is the latest in Indian Country to get on board with the Land Buy-Back Program for Tribal Nations.

President Ben Shelly signed a cooperative agreement with the Interior Department on Tuesday. He said the tribe's participation in the program will prevent Indian land from being sold to private interests.

“Their interests are to privatize lands for taxes and other purposes. We cannot let this happen," Shelly said in a press release. "By signing this agreement into law today, I am ensuring we address these allotment lands before private interests do,”

Nearly 34,000 people own land on the reservation. Based on estimates from the tribe, they could receive more than $100 million for their fractional interests.

The agreement will help DOI identify individual landowners who are willing to sell those interests. The Bureau of Indian Affairs expects to finish the appraisal process in November.

“We are excited that the Navajo Nation has taken a strong interest in the program,” said BIA Regional Director Sharon Pinto said in a press release.

The $3.4 billion Cobell settlement provided $1.9 billion for Indian landowners who want to sell their fractionated interests. DOI will pay "fair market value" as required by the Indian Land Consolidation Act.

Participation is entirely voluntary. Any land that is acquired will be returned to tribes.

As of April 3, DOI has extended $924 million in offers to nearly 49,000 owners. Some $365 million in transactions have been concluded so far, according to a chart posted on the program's website.

The equivalent of more than 577,000 acres have been returned to tribal governments as a result of the program.

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