Federal Goverment of Nigeria signs pact with Swiss govt over $321m Abacha loot

Wednesday, 9 March 2016

Federal Goverment of Nigeria signs pact with Swiss govt over $321m Abacha loot

$321m Abacha loot: Fed Govt signs pact with Swiss govt

The Federal Government has welcomed an offer by the Swiss government to return $321 million stolen funds from Nigeria under the late Gen. Sani Abacha.
Vice President Yemi Osinbajo spoke yesterday at the Presidential Villa, Abuja, during a meeting with a Swiss delegation, led by the country’s Federal Councillor and Head of its Foreign Affairs Department, Mr. Didier Burkhalter and the Swiss Ambassador to Nigeria, Mr. Eric Mayoruz.
In a statement by the Senior Special Assistant on Media and Publicity, Laolu Akande, Osinbajo said a framework was being developed on how the money would be managed.
“The framework will guarantee that returned assets will be used for the people.”
Attorney-General of the Federation and Justice Minister Mr. Abubakar Malami signed an agreement described as a “Letter of Intent” with the Swiss government on the restitution of illegally-acquired assets forfeited in Switzerland.

Mr. Burkhalter signed for the Swiss government.
Under the agreement, the Swiss government will award to Nigeria $321 million “of funds illicitly acquired by the Abacha family.
, initially deposited in Luxembourg and confiscated by the Judiciary of the Republic and Canton of Geneva pursuant to a Forfeiture order of December, 2014”.

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