West and North Africa
Switzerland Returns U.S.$700 Million Abacha Loot To Nigeria
Ambassador of Switzerland to Nigeria, Dr. Hans-Rudolf Hodel, yesterday said all the $700 million in Swiss bank accounts belonging to the late head of state General Sani Abacha have been returned to Nigeria.
Hodel said this at a news conference in Abuja. He added that Swiss and Nigerian governments have agreed to request the World Bank to participate in the review of the use of the funds on welfare projects.
"Regarding Sani Abacha, Switzerland has restituted and returned $700 million of illicit assets to Nigeria," he said.
The ambassador said in addition to the return of the funds, Switzerland also funded a project of an NGO network which monitored the use of the recovered monies in the various development projects.
On the case against the late Abacha's son Abba, Hodel said proceedings over support of a criminal organisation were still pending in Geneva.