ABUJA—Nearly 15 years after the death of General Sani Abacha, Nigeria’s former military ruler, the Swiss Government has said that it has so far returned to Nigeria the sum of $700 million stolen by the late dictator and deposited in several Swiss banks.
The Swiss Ambassador to Nigeria, Dr. Hans-Rudolf Hodel, announced the figure at a media briefing in Abuja, yesterday.
Hodel also hinted that his country had begun proceedings in Geneva against one of Abacha’s sons -Abba, for allegedly sponsoring a criminal organization but did not give further details.
The envoy explained also that in the last 15 years, Switzerland has returned about $1.7 billion of illicit money to their countries of origin including Angola, Peru, Nigeria and the Philippines.
The briefing was in respect of an international seminar by the Switzerland embassy and the Inter-Governmental Action Group against Money Laundering in West Africa, GIABA, and Combating the Financing of Terrorism.
The envoy however used the forum to deny the existence of fresh $1 billion being alluded to by former President Olusegun Obasanjo as still being held by the Swiss banks.
Hodel stated that the Abacha’s case in particular compelled his country to adopt more stringent measures to combat illicit dealings in its financial sector.
He said: “Swiss banking secrecy does not give any protection against criminal prosecution, neither within Switzerland nor regarding international legal assistance. Additional measures prevent assets from being withdrawn before foreign authorities and law enforcement agencies submit a formal request for legal assistance or information for investigative purposes.”
He expressed the hope that the repatriated funds would not be embezzled by corrupt officials of the benefitting nations. He also spoke on the bilateral relations between Nigeria and Switzerland noting that $225 million was invested by Swiss businesses in the Nigerian economy in 2010 up from $201 million in 2009.
It will be recalled that a Geneva court had two months ago confirmed the sentence handed down on the son of the former Nigerian dictator Sani Abacha for belonging to a criminal organisation linked to looted assets charges.
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See the article here: Abacha loot: Switzerland has returned $700m to Nigeria – Swiss envoy
Posted: at 5-12-2012 12:23 PM (12 years ago) | Gistmaniac
LATE CRIMINAL SANI ABACHA DEPOSITED MORE THAN 1 BILLION DOLLARS TO SWISS BANK 16 YEARS EGO AND SWISS BANK RETURN $700 MILLION DOLLARS AFTER 16 YEARS WHICH MEANS THEY HAVE MAKE A LOT OF PROFIT WITH OUR MONEY.. WE ARE JUST FOOLING OUR SELF'S .
Posted: at 5-12-2012 02:36 PM (12 years ago) | Gistmaniac
FinlandGuy at 5-12-2012 05:03 PM (12 years ago) (m)
Quote from: paul4daddykalu on 5-12-2012 02:36 PM
LATE CRIMINAL SANI ABACHA DEPOSITED MORE THAN 1 BILLION DOLLARS TO SWISS BANK 16 YEARS EGO AND SWISS BANK RETURN $700 MILLION DOLLARS AFTER 16 YEARS WHICH MEANS THEY HAVE MAKE A LOT OF PROFIT WITH OUR MONEY.. WE ARE JUST FOOLING OUR SELF'S .
This are the people that lead the country into mud,Tomorrow some idiotic people go say na Igbo man dey spoil Nigeria or igbo man like moni. $700 million dollars wey one person steal and some people from im state dey write 43,000 naira as FOTITIRI PAWZAN NIRA due to poor education. This Moni reach to take develop the northern states,but the northerners keep accusing igbo's for their misfortune while these are the people who riped off their destiny.
Posted: at 5-12-2012 05:03 PM (12 years ago) | Gistmaniac
if only they can use the money to build and renovate refineries in nigerian, instead of borrowing the money they thought of borrowing before from swiss bank to build refinery. today aljazeera broadcasted that over 70 percent of nigerians doesn't have asses to clean water both for drinking and bathing, i was are shame when i was watching the news with my oyibo girlfriend. and they said in the news that about 70 percent doesn't have a good place for defecation what a shame in 21 century. some body will be trying to stop the youth from traveling abroad in access to good life when life has no duplicate.
Posted: at 5-12-2012 05:27 PM (12 years ago) | Upcoming
LATE CRIMINAL SANI ABACHA DEPOSITED MORE THAN 1 BILLION DOLLARS TO SWISS BANK 16 YEARS EGO AND SWISS BANK RETURN $700 MILLION DOLLARS AFTER 16 YEARS WHICH MEANS THEY HAVE MAKE A LOT OF PROFIT WITH OUR MONEY.. WE ARE JUST FOOLING OUR SELF'S .
Ff on twitter @samuelokorie7 or ping 760BE790
Posted: at 5-12-2012 05:30 PM (12 years ago) | Hero
Na big Nigeria wake up dont let dis stupid people fool us again since dey have been collecting dis fake Abacha money wating dey take am do best president so far bcos he didnt do with American dey were naw blackmail him God go forgive all of you sha.
Posted: at 6-12-2012 01:33 AM (12 years ago) | Newbie
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