Swiss Government Claim It Returns $723million Abacha Loot

In a memorandum of understanding signed with the Nigerian government on March 8^th 2016 the Swiss government says it has so far returned $723 million (about N142.43 billion) of the Abacha loot to the Nigerian government over the last ten years.

According to Premium Times, the Swiss government made this known in a memorandum of understanding it signed with the Nigerian government on March 8th.

The repatriated fund is excluding the $321million (about N63.24 billion) which the Swiss authorities will be repatriated to Nigeria soon.

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.