Skip to main content

Switzerland Gives Nigeria Conditions For Returning $321m Abacha Loot

Switzerland has given conditions for repatriating $321m looted fund to Nigeria.

Part of the conditions is that the fund will be used for projects that will benefit Nigerians and they (the projects) must be monitored by the World Bank.

The Minister of Foreign Affairs, Geoffery Onyeama said that the government was working on the modalities for the repatriation.



Speaking shortly after holding a meeting with the Swiss Foreign Minister, Didier Burkhalter, on Tuesday in Abuja, Onyeama explained that Nigeria had signed an agreement with the Swiss government in the area of human right and migration.

He said, “It is $321m that we are looking at repatriating to Nigeria and the modalities are basically legal framework for that, mutual legal assistance framework that we are trying to put in place and there are pre-conditions that are also in place already and this requires monitoring mechanism.

“So, we have to agree beforehand as a pre-condition on what the money would be used for and the World Bank would be part of the monitoring process to ensure that the money is used for the benefit of Nigerian people.”

The Minister stated that Burkhalter’s visit was significant as it marked the commencement of the fund repatriation process, noting that other looted funds may be discovered in hidden accounts in Swiss banks.

Burkhalter said his country and Nigeria have a very constructive relation, adding that Switzerland planned to open a consulate in Lagos that would boost economic relations between the two countries.

He said his country would repatriate $321mn to Nigeria and pledged Switzerland’s continued assistance to IDPs in the country.

“We would continue to help in the humanitarian assistance in the North, for those who are suffering and we would try to write another chapter of the history of illicit asset recovery and restitutions from Switzerland to Nigeria,” Burkhalter said.

Source>http://www.punchng.com/switzerland-gives-nigeria-conditions-for-returning-321m-abacha/
Post a Comment

Popular posts from this blog

U.S. Military Helicopter Crashes In Iraq On Thursday, Killing 7 People On Board

One of the U.S. military helicopter in Iraq has crashed after hitting a power line in Iraq's western Anbar province, killing all seven personnel aboard.

According to a statement from Pentagon this morning, the officials said the crash of the HH-60 Pave Hawk helicopter occurred Thursday afternoon near the town of Qaim.

"All personnel aboard were killed in the crash," Brig. Gen. Jonathan P. Braga, director of operations, Combined Joint Task Force - Operation Inherent Resolve, said in a statement.

"This tragedy reminds us of the risks our men and women face every day in service of our nations," he said. "We are thinking of the loved ones of these service members today."

The statement further said;

Badoo Srine Discovered,Alaka Abayomi Of Alaka Petroleum Apprehended(Video)

The Nigerian police SARS, IRT and RRS, has arrested a popular independent oil marketer of Alaka petroleum Alhaji Abayomi Alaka . Following investigations of the recent killing of a family of five over the weekend , kudos to the gallant men of the Nigerian police

Wife Of Donald Trump Junior Files For Divorce

(Reuters) - The wife of Donald Trump Jr., the eldest son of U.S. President Donald Trump, has filed for divorce in New York, according to court records.

Vanessa Trump, a former model and actress, and Trump Jr. said in a joint statement on Thursday: "After 12 years of marriage, we have decided to go our separate ways."

The statement was provided by the Trump Organization, the president's business empire, which his son helps manage.


Further details were not immediately available on the uncontested divorce filing by Vanessa Trump in a New York state court. She and Trump Jr. have "enormous respect" for each other, according to the joint statement, which also asked for privacy.