Wednesday, 6 December 2017

Nigeria, Switzerland Sign Deal To Return Abacha's $321m Loot

Nigeria and Switzerland have signed a memorandum of understanding (MoU) for the return of $321 million traced to former military Head of State Sani Abacha.

Reports say the deal was signed in Washington DC, US, at the World Bank Group. The deal was signed by the Attorney-General of the Federation (AGF), Abubakar Malami, on behalf of Nigeria.

According to reports, the money will be used on social protection programme in Nigeria. Several Civil Society Organisations (CSOs) were part of the negotiation of the MoU. They are expected to track the use of the money.

Abacha was Nigeria’s Head of State from November 1993 until his sudden death on 8 June 1998. During that period, he stashed billions of dollars abroad. 

Although some recoveries had been made, there are allegations that the funds were mismanaged by the federal government

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