Switzerland will return $380 million to Nigeria, the money that were stolen during General Sani Abacha’s presidency in the 1990s.
According to Geneva’s public prosecutor, the $380 million will be returned under the supervision of the World Bank. It would be recalled that after Sani Abacha’s death, Nigerian authorities appealed to the governments of countries to which the money had been traced – including Lichtenstein, the United Kingdom, the United States, and Luxembourg, but especially Switzerland – for mutual legal assistance in the case.
Later the Obasanjo government implicated Abacha and his family in a wholesale looting of Nigeria’s coffers. In 2002 Abacha’s family purportedly agreed to return $1.2 billion that was taken from the central bank. However, the late dictator’s son, Mohammed Abacha, continues to maintain that all the assets in question were legitimately acquired.
Besides, another of Abacha’s surviving sons, Abba Sani Abacha, was implicated in criminal activity in April of 2005. He was accused of money laundering, embezzlement, and fraud, Abba was extradited to Switzerland from Germany. He was handed a one-year suspended prison sentence that was cancelled in May 2014 by Switzerland’s top court.
It is believed that more than $2bn were deposited in European banks by members of his family. Switzerland last year returned $700m to the Nigerian government after a deal was struck to end a legal dispute, $200 million had allegedly been siphoned off before reaching its destination in Nigeria’s public works projects.
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