Fidelity bank banner Bayelsa State banner
Switzerland to return $380 million Abacha loot

By News Express on 18/03/2015

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,975


Switzerland will return to Nigeria some $380m (£260m) allegedly looted by ex-military ruler Sani Abacha, an official has said.

The transfer, to be conducted under the supervision of the World Bank, will end a 16-year case against the Abacha family.

Switzerland has already returned $700m, following appeals from Nigeria.

Abacha ruled the oil-rich West African state with an iron-fist from 1993 until his death in 1998.

Soon thereafter, Nigeria's new rulers asked Switzerland to help it recover $2.2bn that he had reportedly stashed in European bank accounts.

The $380m was seized in 2006 in Luxembourg, following a request from Swiss authorities, the Geneva prosecutor's office said in a statement.

The BBC's Will Ross reports from the main city, Lagos, that massive corruption still plagues Nigeria.

Millions of dollars are alleged to have gone missing from the state oil firm in recent years.

The World Bank has been asked to oversee the return of the latest money, presumably to add a degree of transparency, our correspondent adds.

Democratic rule was restored in Nigeria a year after Abacha's death.

Many Nigerians saw him as one of the country's most repressive rulers.

•Photo shows late Abacha.

Source News Express

Posted 18/03/2015 03:45:27 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Court restrains El-Rufai from sacking over 4,000 Kaduna...

1,000 dump PDP for APC in Osun

Kaduna State EXCO approves drug control and witness...

Group petitions EFCC over alleged shortchanging of 5...

Why I flogged Radio Bayelsa workers: GM

7 in police net over illegal advertising practice...

Dangote donates $1 million to Tanzanian women, youths...

OPC hails DSS over arrest of Boko Haram...

Finance Ministry faults staff protest over N1.2 billion...

Renowned Nigerian journalist drops dead

Lagos State government to decentralise Christmas celebration

COINCIDENCES: Of Model T. Ford and T. Adeola...

 

Latest News IPOB alerts British Government about possible anarchy •Says Abaribe accused of hiding Nnamdi Kanu in his house Defection: nPDP makes U-turn, stays put in APC Ex-diplomat bags 5-year jail term for child porn Victims of 1995 phantom coup cry out for justice •Text of heart-rending letter to Senate •Full list of victims Kwankwaso romances Atiku, pays nocturnal visit to Abuja residence 16 freight forwarders cleared for election into Governing Council of CRFFN Presidency, BPE wade into NERC, Ibadan Disco controversy Nigeria will be better when there is obedience to God’s word — Okowa How Zimbabwean leader survived assassination attempt I did not award N8bn Nworie River dredging contract — Ohakim •Denies asking anyone without N1m to leave Owerri BNYL condemns Senator Abaribe’s arrest by DSS History made as Saudi women finally allowed to drive

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (353,012 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (352,881 views) Shameless Genevieve Nnaji exposes breasts in public (280,948 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (230,574 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (209,415 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (209,357 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (182,222 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (164,408 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (154,117 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (149,004 views) Lagos plane crash: Journalist releases victims’ names (144,172 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (135,894 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (50) Business & Economy (3,266) Business Verdict (44) Columnists (871) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (507) Features (607) Global Business Monitor (284) International (2,055) Interview (155) Live Commentary (28) Love Matters (124) News (36,454) Opinion (1,005) Pidgin (10) Politics (5,330) Religion (772) Sports (1,562) Stock Watch (30) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Nigeria vs Iceland 2-0 All Goals & Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement