Nigeria's Federal Government has welcomed an offer of the Swiss government to return $321m stolen funds from the Abacha loot, and is now developing a framework that will aid the repatriation of such stolen assets stashed abroad by those who have looted from the country’s resources in the past.
Nigeria's Vice President - Prof. Yemi Osinbajo
Nigeria's Vice President - Prof. Yemi Osinbajo
Vice President, Prof. Yemi Osinbajo, SAN, made this disclosure at the Presidential Villa, Abuja during a meeting with a Swiss delegation led by the country’s Federal Councillor and Head of its Foreign Affairs Department, Mr. Didier Burkhalter and the Swiss Ambassador to Nigeria, Mr. Eric Mayoruz.
Osinbajo stated that: “We guarantee that recovered assets would be put to uses for which they have been intended.”
Commending the Swiss government on its assistance in repatriating the country’s stolen assets, the Vice President said the Federal Government appreciates the Swiss government for their very laudable efforts, noting that the “Swiss have always been at the forefront of returning stolen assets and ensuring that the people of Nigeria get the benefit.”
Later the Attorney-General of the Federation and Justice Minister, Mr. Abubakar Malami, SAN, signed an agreement described as a "Letter of Intent" between the Swiss government and the Nigerian government on the restitution of illegally-acquired assets forfeited in Switzerland. Mr. Burkhalter signed the letter for the Swiss government.
Under the agreement, the Swiss government will award to Nigeria $321m “of funds illicitly acquired by the Abacha family, initially deposited in Luxembourg and confiscated by the Judiciary of the Republic and Canton of Geneva pursuant to a Forfeiture Order dated 11th December 2014.”