Switzerland said yesterday it has put some measures in place to safeguard its financial system from the transfer of stolen wealth. Outgoing Swiss Ambassador to Nigeria, Mr Andreas Baum, spoke in an interview with the News Agency of Nigeria (NAN) in Abuja . He said Switzerland’s financial system had improved since the controversy surrounding the loot of the late Military Head of State, Gen. Sani Abacha.
“It is an area we have put a lot of work in. We realised that there was a problem; the measures we have taken will prevent the transfer of stolen wealth to our country. “The Nigerian case is very important to us because the Abacha case helped us to improve our laws. “We have put in place measures to ensure that the Swiss financial system is not abused with the transfer of such assets. “We have returned around 500 million dollars (about N80 billion) of the Abacha loot to Nigeria. That was done during the time of my predecessor. “But there is still one ongoing case involving the son of Abacha,’’ Baum said. The envoy, who described bilateral relations between Switzerland and Nigeria as excellent, bemoaned the low volume of their trade, which currently stood at $500million. Baum attributed the low level of bilateral trade between the two countries to “informal and unaccounted trade’’. According to him, this is because a lot of Swiss products, mainly oil and pharmaceuticals, come into Nigeria through other countries. “Some Swiss products come into Nigeria through the Netherlands; so it is sometimes difficult to have an accurate account of the trade volume.’’ Baum stressed that plans were underway to improve on the bilateral trade, citing the visit of a trade delegation from Switzerland to Nigeria in 2010 as part of the trade improvement strategies. Baum, who assumed duty in Nigeria in 2008, is expected to leave the country this month, having completed his hour of duty.
Riches...Yes! I Can
Posted: at 6-08-2012 06:29 AM (12 years ago) | Gistmaniac
Treasure2 at 6-08-2012 09:53 AM (12 years ago) (f)
Good news
Posted: at 6-08-2012 09:53 AM (12 years ago) | Hero
dis people Boko haram and goodluck jonathan beef never stil finish Naija una too much oo coffee wey I dey drink for hia comot for my nose as I read this.
Posted: at 6-08-2012 10:23 AM (12 years ago) | Gistmaniac
aso4life1 at 6-08-2012 10:25 AM (12 years ago) (m)
Quote from: BendelArmedRobb on 6-08-2012 10:23 AM
dis people Boko haram and goodluck jonathan beef never stil finish Naija una too much oo coffee wey I dey drink for hia comot for my nose as I read this.
Leave them, they are now in season 25,episode 419
if u attack my papa house, I'll retaliate but if you are peace loving,I will embrace you
Posted: at 6-08-2012 10:25 AM (12 years ago) | Hero
toffee2love at 6-08-2012 11:09 AM (12 years ago) (m)
How i wish the Switzerland never return the cash..............cos this to me is a mere sad news hearing huge amount of monies stole and return to the second hand rubbers.........mtchewwwwww
Posted: at 6-08-2012 11:09 AM (12 years ago) | Upcoming
FinlandGuy at 6-08-2012 12:25 PM (12 years ago) (m)
“We have returned around 500 million dollars (about N80 billion) Sani Abacha looted-Said Mr Andreas Baum"
Very shameful,a whole President? Hausa people ruled this country to red mud,they steal and looted the country's treasure most,they brought 419 to Nigeria by IBB,huasa people put Nigeria on Terrorist list-Umar Farouk,muslims bombing a.ka.BH. The same hausa tribe remains poorest,most undeveloped,more of street beggars,there you will see highest rate of sickness and all kind of disease,education is zero yet abacha steal 500million dollars instead of to use it and develop the North,build school,hospitals,etc,he prefer to take oversea to white man country what a shame. Tomorrow someone will say,Igbo man like money,but Igbo man hustle for his money on his own,Igbo man has not steal Nigeria money before.
abacha steal 500million dollars and his brothers write 43,000 naira as FOTITIRI TAWZAN NIRA.hausa peoples what a shame?
Posted: at 6-08-2012 12:25 PM (12 years ago) | Gistmaniac
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