Switzerland Govt. Set To Return $321m Abacha Loot To Nigeria As They Sign MOU With The FG

The government of Switzerland and Swiss Federation Council (SFC) have indicated their readiness to repatriate the sum of $321 million from the second batch of the funds allegedly stashed away in that country by late former Head of State, Gen. Sani Abacha, to Nigeria.

This was disclosed in Abuja yesterday by the Ambassador of Switzerland to Nigeria, Mr. Eric Mayoraz, after the signing of the Memorandum of Understanding (MoU) between the SFC and the Federal Government on mutual legal assistance in criminal matters.


Mr. Eric Mayoraz,

According to the envoy, the MoU will facilitate easy repatriation of new cases of criminal lodgement of money in Swiss Banks to Nigeria. “We have repatriated $720 million in 2005 to Nigeria and we are now in the process of repatriating $321 million from the second batch of Abacha funds that we have collected.

The MoU is for the future cases, so it will allow a better cooperation and of course, if Nigeria has some new cases to submit to Switzerland, it will accelerate the process through this MoU that we just signed today. “It will reduce time for the process of transmitting the legal request from Nigeria to Switzerland and also from Switzerland to Nigeria because the MoU is not only for looted assets, it is also for all criminal matters,” he said. Earlier in his speech, Mayoraz noted that people goods and money move around the world easily,adding that the mobility of these goods, money and items is not limiting to honest people and clean money.

He said that criminal and proceeds from crime profit from it as well and calls on states to cooperate in order to fight transnational organised crimes, corruption, money laundering, the drug trade, and the like. Explaining the provisions of the MoU, the Ambassador highlighted two aspects, which he said, would bring the two countries closer to their goal of fighting international crime if followed. He said: “The MoU provides for foundations to improve cooperation.

In particular, it brings direct contact between central authorities within our respective judicial authorities and ministry of justice and second, it aims  at fostering the understanding of each other’s legal system in realities.” Referring to the MoU as a common venture, he said it would be a win-win situation for both countries.

“We set out a common venture. The venture includes the fight against corruption, a priority of President Buhari’s government. Nigeria fights corruption, Switzerland fights money hailing from corruption and other international crimes entering into bank accounts. “There is a common ground. This is not a legal tool. If we will each do our share of the work, we can reach our goal.

It will, in the future, be harder to profit from corruption and I am very proud of that,” Mayoraz noted. Earlier in her remarks, the Minister of State for Foreign Affairs, Khadija Abba Ibrahim, who represented the Federal Government, expressed the appreciation of the government on the willingness of the government of Switzerland to support the anti-corruption agenda of the present administration. She noted that the importance of the repatriated funds would facilitate essential development in the country.

She said the MoU was not only peculiar to one case but any looted funds, stressing that: “It would make the bureaucracy of repatriating money from Switzerland much quicker and easier.” Among the dignitaries present at the signing ceremony were the representatives of the Minister of Justice, and the Undersecretary, Economic and Consular, Mrs. Regina Ezuwa.

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Posted: at 30-07-2016 11:08 AM (7 years ago) | Addicted Hero

Oya,,,,we ar waiting,,,9ja needs moni now,,,

Posted: at 30-07-2016 12:15 PM (7 years ago) | Hero

Don't ever give us the news of money recovery or money laundry again, either internally or externally. It is useless and baseless. May thunder strike the mouth of anyone that gives us the news of any returned money to Nigerian government. Awon Ole oloshi olori buruku. Ko nii dara fun yin laelae

Posted: at 30-07-2016 12:29 PM (7 years ago) | Gistmaniac

I PRAY DE MONEY SHOULD BE WELL UTILISE. ki oro wa ma baa dabi eni to n ponmi sinu ajadi apere.

Posted: at 30-07-2016 12:59 PM (7 years ago) | Upcoming

Where all De money where dem d return nce

Posted: at 30-07-2016 01:26 PM (7 years ago) | Upcoming

Wat of buhari's own? Y don't u return dem 2geda?

Posted: at 30-07-2016 01:40 PM (7 years ago) | Gistmaniac

WHERE ALL THIS MONEY THEM DEY RECOVER OR RETURN

Posted: at 30-07-2016 02:39 PM (7 years ago) | Addicted Hero

Dem don agree to pay am into my account so no problem..

Posted: at 30-07-2016 05:44 PM (7 years ago) | Hero

Its better make dem pay d money we's account oooooo, na we d internal cititzens go sabi keep d money.

Posted: at 30-07-2016 06:17 PM (7 years ago) | Gistmaniac

From frying pan to fire.

Posted: at 30-07-2016 10:29 PM (7 years ago) | Upcoming