Switzerland set to repatriate $321m Abacha loot
The Switzerland government has disclosed that it
would soon return the sum of $321m former Head of State General Sanni Abacha
kept in their country. Switzerland said it was
part of its commitment towards fighting money laundering and other
trans-national crimes.
The Swiss Ambassador to Nigeria, Eric Mayoraz, made the
disclosure, during the signing of a Memorandum of Understanding on Mutual Legal
Assistance on criminal matters, between the Swiss government and the Federal
Government of Nigeria in Abuja.
The Ambassador who stated that the MoU is aimed
at fostering understanding between the two countries particularly as it relates
to their different legal systems said, “we are now in the process of
repatriating $321m from the second batch of the Abacha loot”, adding that the
country had in 2005 repatriated $722m in the first batch. Mayoraz noted that
the event was significant in the sense that it would eradicate every bottleneck
associated with the repatriation of stolen funds starched in his country.
“Our
countries enjoy excellent relations and we cooperate as partners in many
fields, on the return of looted assets, migration, human rights, humanitarian
assistance and many others. “Today, we decide to take this cooperation forward
to deepen it in the field of judicial cooperation.
By signing a Memorandum of
Understanding in this important area, our two States further strengthen their
ties of friendship and cooperation”, he said. In her remarks, Minister of State
for Foreign Affairs, Hajia Abba Ibrahim, said that the idea of signing the MoU
was first muted in 2015 stated and that the agreement would help block accounts
of funds linked to money laundering and other trans-national crimes. Ibrahim commended
the Swiss government in supporting Nigeria’s fight against corruption, noting
that repatriated funds can help facilitate essential development in Nigeria.
Vanguard
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