Wednesday, 16 March 2016

We have returned $723m Abacha loot - Swiss govt

The Swiss government has stated it has so far returned $723 million (about N142.43 billion) of the late Sani Abacha loot to the Nigerian government over the last 10 years. According to Premium Times, the Swiss government made this known in a memorandum of understanding it signed with the Nigerian government on March 8th.

The repatriated funds is excluding the $321million (about N63.24 billion) which the Swiss authorities will be repatriated to Nigeria soon. The agreement, titled “Letter of Intent on the restitution of illegally-acquired assets forfeited in Switzerland,” was signed by Nigeria’s Attorney-General and Minister of Justice, Abubakar Malami, and the Swiss Head of Foreign Affairs Department, Didier Burkhalter.

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