Switzerland has made a remarkable progress in the repatriation of the
loot of the former Nigerian dictator, Sani Abacha over the last decade. The Swiss government has confirmed that it has so far returned $723
million (about N142.43 billion) of stolen funds seized 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 it was planning to repatriate to Nigeria.
These details are 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.
The document, obtained by PREMIUM TIMES, reveals that $321 million
acquired illicitly by the Abacha family, was initially deposited in
Luxemburg before being confiscated by the Swiss Republic Judiciary and
Canton of Geneva following a December 11, 2014 forfeiture order.
The agreement says funds to be returned to Nigeria would contribute to
the implementation of social programmes for the benefit of the Nigerian
people in “an efficient and accountable way, guaranteed by a monitoring
by World Bank”.
Acknowledging the cooperation of Switzerland and Nigeria as an excellent
opportunity to fight against corruption at domestic and international
levels, the signatories to the agreement recalled the long partnership
by their two countries in asset recovery based the principles of
national interest, trust and mutual respect.
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