Switzerland to return $321m Abacha loot - Welcome to Julia Blaise Blog


Tuesday, 5 December 2017

Switzerland to return $321m Abacha loot

Switzerland will reportedly return to Nigeria government about $321m (£239m) looted by former military ruler, Sani Abacha, following a memorandum of understanding signed by the two governments.

In a statement, the Swiss government said:

"In accordance with policy on repayment of national assets taken illegally, Switzerland has agreed with Nigeria and the World Bank to return nearly $321m for the benefit of the Nigerian people."

Abacha is suspected to have embezzled $2.2bn from Nigeria's central bank in what the United States has called "brazen acts of kleptocracy" during his rule from 1993 until his death in 1998.

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