Switzerland to transfer another $300 million Abacha loot to Nigeria – Minister

The government of
Switzerland is prepared to
transfer to the Nigerian
government, another $300
million recovered from the
family of former military
ruler, Sani Abacha, foreign
minister, Geoffrey Onyeama,
announced Monday.
The money is part of an
estimated $5 billion stolen
and stashed in foreign
accounts by the late dictator.
Nigeria has in the last 10
years received over $1 billion
from the Swiss and American
governments, but there are
growing concerns past
administrations misused the
huge sum.
PREMIUM TIMES reported in
December 2015 how former
finance minister, Ngozi
Okonjo-Iweala, with the
approval of former President
Goodluck Jonathan,
authorised the diversion of at
least N61.4 billion ($300
million and £5.5 million)
from funds recovered from
Mr. Abacha, to the Office of
the National Security Adviser,
Sambo Dasuki, few weeks
before the 2015 presidential
election.
The former minister said the
money, which was not
approved by the National
Assembly, was meant for
purchase of military
equipment for the fight
against Boko Haram.
The money is believed to be
part of at least $2.1 billion
slush fund later distributed
by Mr. Dasuki to politicians
ahead of the polls. An
ongoing investigation into the
scandal as led to the
indictment of several high
profile figures.

PREMIUM TIMES