Swiss Govt Finally Agrees To Return $321 Million Abacha Loot

The government of Switzerland has signed a pact with the World Bank to return about $321 million Sani Abacha loot to the Nigerian government.

Recall that the Switzerland government has since promised to return the recovered funds from the family of the former military ruler to the President Muhammadu Buhari led administration.

Both the World Bank, Switzerland and Nigerian governments agreed that the stolen funds recovered from the Abacha family will be used for infrastructure development.

“The project will strengthen social security for the poorest sections of the Nigerian population.

“The agreement also regulates the disbursement of restituted funds in tranches and sets out concrete measures to be taken in the event of misuse or corruption,” the World bank said.

Meanwhile, Transparency International estimates that the ex-military ruler stole around $5 billion from the coffers of the Nigerian government.