Wednesday, 16 March 2016

Switzerland Returns Abacha's $723 Million Loot To Nigeria In 10 Years


The Swiss government has confirmed that it has so far returned $723 million (about N142.43 billion) of stolen funds ceased from the family of the late former head of state, Sani Abacha, to the Nigerian government over the last 10 years.


The amount excludes $321million (about N63.24 billion) which the Swiss authorities recently said recently it was planning to repatriate to Nigeria.

These details were contained in the agreement signed on March 8, 2016 in Abuja by representatives of the Swiss Federal Council and the Nigerian government.

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.