We Have Returned All Abacha’s Loot In Our Country – Swiss Govt

The government of Switzerland has revealed that the over $1 billion stashed away by late Nigerian Head of State, General Sani Abacha, in the country has been repatriated in full.

This was disclosed by Swiss Ambassador to Nigeria, Eric Mayoraz during a ceremony hosted by the embassy in Abuja.

The ceremony was organized to examine asset recovery efforts between Nigeria and Switzerland with a special focus on the ‘Abacha loot’.

Switzerland had earlier returned in the different tranches, the sum of $752 million, which the late dictator and his family stashed in Swiss banks.

Only recently, $321 million was repatriated to Nigeria, and deposited with Nigeria’s Central Bank. Upon receipt of the money, Nigeria’s federal government announced that sum will be distributed to the neediest households in Nigeria.

How the government plans to distribute the money is still shrouded in confusion. Activists and opposition parties fear that the money may find it’s way into the pockets of politicians and may not be used for the collective good of the masses as the government claimed.

Speaking at the ceremony, Ambassador Mayoraz said with new legislations already put in place in his country, it would be impossible to steal Nigeria’s money and stash it away in any part of Switzerland.

“As a way out of what led to Abacha loot, we have signed a Mutual Legal Assistance treaty with Nigeria and it is meant to enable us to track and expose those who want to bring in illicit wealth and prosecute them in accordance with the laws in place.

“It is to be made clear that the new laws in Switzerland do not allow for any stolen wealth to be kept in any place in the country,” the ambassador said.