The Minister of Foreign Affairs, Geoffrey Onyeama, on Monday, said that the government of Switzerland has promised to return another $300 million looted funds, recovered from the family of former military ruler, Sani Abacha, to Nigeria.
Onyeama, who disclosed this while speaking at the inaugural ceremony of the 22nd regular course of Foreign Service Academy in Abuja, said negotiations are ongoing with a number of countries on the modalities for the repatriation of some looted funds stashed abroad, adding that the Federal Government was currently in discussion with the United Kingdom and the United States on how all looted funds could be recovered.
He said: “We are in touch with Switzerland. They have recently recovered quite a significant amount of money and I met last week with Swiss representatives to work out the modality for the repatriation of the funds.
“The Swiss government has already repatriated over $700 million from the late General Sani Abacha loot and that agreement has been reached on how the money would be applied.
“They have also now recovered in the same context another $300 million, of which there is ongoing discussion to have that repatriated as well.
“There are discussions with other countries. United Kingdom, for instance, as you all know, is one of the countries we are discussing with on how to recover looted funds.”