Nigeria And Switzerland Sign Agreement To Return 116 Billion Naira Stolen By Abacha
Many Nigerians would now be wondering - how much exactly did former military dictator, Sani Abacha steal from Nigeria?
The Abacha loot, as it has come to be known, has been in the news for 20 years.
Now, President Buhari’s led federal government has signed an agreement to pave the way for the return of the Abacha loot.
Switzerland said in December that it would return to Nigeria around $321 million, about 116 billion naira in assets seized from Abacha’s family through a deal signed with the World Bank.
Since taking office in 2015, President Buhari has sought help from several nations to recover money he said was taken from the public coffers of Nigeria.
Buhari’s spokesman said in an emailed statement that the memorandum of understanding ratified was between Nigeria, Switzerland and the International Development Association, (IDA), the World Bank’s fund for the world’s poorest countries.
“The return of illegal assets will not only boost the administration’s anti-corruption drive, but also provide additional funds for critical infrastructure,” said the spokesman in the statement.
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