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Wednesday, 5 December 2012

Swiss Ambassador Confirms Return Of $700m Abacha Loot

The Ambassador of Switzerland to Nigeria, Dr. Hans-Rudolf Hodel Tuesday in Abuja said the Swiss government has so far returned $700 million USD to the Nigerian government from the billions looted by late military dictator, General Sani Abacha.

Abacha is believed to have stashed at least $2 billion dollars in Swiss and Luxemburg bank accounts during his reign as military head of state, which ended abruptly following his mysterious death in office.

Abacha’s son, Abba was convicted two years ago (2010) for his role in the plundering of Nigerian funds. His trial in another corruption related suit is still on going in Swiss court.

Judges have ordered the confiscation of $350 million dollars from accounts linked to him in Luxembourg and the Bahamas.

The federal government of Nigeria has not come clean with what it has done with all the funds it has managed to recover from the thieving ruling class.

Hodel told reporters during a press briefing that the Swiss government remains committed to returning funds stolen from African states and other developing nations by corrupt leaders.

He said his government has so far returned over N1.7 billion dollars to the governments of Nigeria, Angola, Peru and the Philippines.

The Ambassador also spoke about the Swiss embassy’s upcoming seminar on money laundering and terrorism.

Source: The Will

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