First Word on SB

First Word on SB

Telling stories that matter to Nigerians

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FW: There is no more stolen Abacha money in Switzerland

Aisha-Nana Salaudeen

Aisha-Nana Salaudeen

Aisha is trying to figure out how to tell as many impact stories as possible in different forms.

This article is part of our #FirstWord series to provide context on trending news.

 

Perhaps one of the things former military Head of State, Sani Abacha, is most famous for after his death is the amount of money that he looted. Billions of dollars diverted from Nigeria were stashed away in different countries by the former Head of State during his tenure. These funds have slowly been returned to Nigeria.

Over the past years, Switzerland has returned more than $1 billion looted by Abacha to Nigeria. A few days ago, the Swiss Government announced that there are no more looted funds from Abacha as Nigeria’s Attorney General confirmed the last tranche of $322 million. 

“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 added. The Attorney General of the Federation, Abubakar Malami, admitted the receipt of the last tranche of $321 million of the Abacha loot from the Swiss Government, adding that it had been domiciled with the Nigerian apex bank for the purpose of using it to empower the poor and vulnerable in Nigeria” - Eric Mayoraz, Swiss Ambassador to Nigeria.

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