Home News Abacha loot: Nigeria set to receive $321m from Switzerland, AGF confirms

Abacha loot: Nigeria set to receive $321m from Switzerland, AGF confirms

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The Attorney General of the Federation (AGF),Abubakar Malami,

The Attorney-General of the Federation, Abubakar Malami, has confirmed that the government of Switzerland is set to return in tranches the sum of $321m stolen from Nigeria and stashed in a foreign nation by the late, former head of state, Sani Abacha, and his family.

A statement by the AGF’s Special Adviser on Media and Publicity, Salihu Isah, stated, on Tuesday, that this followed a tripartite Memorandum of Understanding signed by Nigeria along with Switzerland and the World Bank in the United States of America, on Monday.

According to Isah, Malami, Nigeria signed the MoU alongside representatives of Switzerland and World Bank at the ongoing Global Forum on Asset Recovery in the United States of America.

Isah also said the Director of the Directorate of International Law and head of the Swiss delegation to the GFAR, Roberto Balzaretti, signed the MoU on behalf of the government of Switzerland and the Country Director of the World Bank office in Abuja, Rachid Benmessaoud signed on behalf the World Bank.

He explained that the MoU spelt out the modalities of returning the sum of $321m by Switzerland to Nigeria. According to the Minister of Justice, the funds would be returned to Nigeria in tranches under a project known as “the National Social Investment Program” aimed at strengthening social security for the poor in Nigeria.