The government of Switzerland is prepared to transfer to the Nigerian government, another $300 million recovered from the family of former military ruler, Sani Abacha, foreign minister, Geoffrey Onyeama, announced Monday.
The money is part of an estimated $5 billion stolen and stashed in foreign accounts by the late dictator.
Nigeria has in the last 10 years received over $1 billion from the Swiss and American governments, but there are growing concerns past administrations misused the huge sum. PREMIUM TIMES reported in December 2015 how former finance minister, Ngozi Okonjo-Iweala, with the approval of former President Goodluck Jonathan, authorised the diversion of at least N61.4 billion ($300 million and £5.5 million) from funds recovered from Mr. Abacha, to the Office of the National Security Adviser, Sambo Dasuki, few weeks before the 2015 presidential election.
The former minister said the money, which was not approved by the National Assembly, was meant for purchase of military equipment for the fight against Boko Haram. The money is believed to be part of at least $2.1 billion slush fund later distributed by Mr. Dasuki to politicians ahead of the polls. An ongoing investigation into the scandal as led to the indictment of several high profile figures. For more scintillating and juicy stories, follow the official Naijapals accounts On Twitter - https://twitter.com/Naijapals and Facebook - www.facebook.com/naijapals
DAMILARE100 at 09:11 PM, 11/01/2016 (2 years ago) (4827 | Gistmaniac) (m)
This man money never still finish for overseas? Hope it wouldn't go to the wrong hands again when truly returned?
gogoman at 09:15 PM, 11/01/2016 (2 years ago) (31873 | Addicted Hero) (m)
I will prefer make the oyinbo no give us the money in cash please!! they should exchange it for development instead, like road, school, hospital and electricity all across the states..
zezprincess at 10:40 PM, 11/01/2016 (2 years ago) (8076 | Hero) (f)
Who are u people telling? $300M is avery small money from the amount we are expecting them to bring back.Mr Buhari, your brother Achacha just finished this country and your are looking for who to porb, why not arrest Abacha's children. Mad Mad people.
DJSNIPPER at 01:28 AM, 12/01/2016 (2 years ago) (3604 | Gistmaniac) (m)
Imagine how these people avoided admitting that the returned loot are from Abacha's cleptomania that Buhari denied. Buhari must not be allowed to touch these funds. Buhari shouldn't be a custodian of our democracy.
factfinding at 07:48 AM, 12/01/2016 (2 years ago) (1977 | Gistmaniac) (m)
This man called Abacha really plunder Nigeria in his reign, no wonder why his wife made a statement that even if Nigeria Govt confiscate all their properties and accounts that they will never poor like Dangote,while Dangote is been refer as one the richest man in Africa. God save us.
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