Switzerland to return $321m Abacha loot – AGF

Nigeria and Switzerland have struck a deal for the return of another $321 million looted by the late Head of State, Gen. Sani Abacha.

The Attorney-General of the Federation and Minister of Jus­tice, Mr. Abubakar Malami (SAN) disclosed this on Thurs­day in Abuja.

He said that negotiation with the Swiss government on the re­turn of $321 million recovered from Abacha’s family had been concluded.

Malami added that Nigeria re­cently recovered the sum of $85 million from the controversial Malabu Restrained Funds from United Kingdom (UK).

In a statement issued on Thurs­day by the Special Adviser, Me­dia and Publicity to the Minis­ter, Comrade Salihu Isah, he said that Malami spoke in his opening remarks at the Pre-Global Forum on Asset Recovery (GFAR) Con­sultative meeting with the theme: “Building an Ending Framework for Asset Recovery in Nigeria”.

Malami stressed that with the conclusion of negotiation, the Memorandum of Understand­ing will be signed by parties at the Global Forum on Assets Re­covery meeting on December 4th – 6th, 2017 in Washington and that the repatriation would follow within weeks as agreed by the parties.

He affirmed the need for the international community to en­sure the implementation of the measures considered and adopt­ed at the London Anti-Corrup­tion Summit in May 2016.

The AGF also emphasised that Nigeria is willing to support the transparent return of stolen as­sets and urged the international community to improve on pro­cedure for faster return of assets to enable the country meet the Sustainable Development Goals (SDGs).

Malami reiterated that resourc­es and funds meant for develop­ment of infrastructure in educa­tion, health and security sectors, among others had been stolen and laundered in different parts of the world.