Switzerland to return seized Abacha loot

BY: BBC

Switzerland will return to Nigeria about $321m (£239m) of government money looted by former military ruler Sani Abacha, following a memorandum of understanding signed by the two governments .

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In a statement, the Swiss government said:

“In accordance with policy on repayment of national assets taken illegally, Switzerland has agreed with Nigeria and the World Bank to return nearly $321m for the benefit of the Nigerian people."

Abacha is suspected to have embezzled $2.2bn from Nigeria's central bank in what the United States has called "brazen acts of kleptocracy" during his rule from 1993 until his death in 1998.


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Nigeria's President Muhammadu Buhari has been pressing foreign governments to return stolen money stashed in their countries.

Mr Buhari took office in 2015 on a pledge to fight corruption.

 

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