SWITZERLAND has said it has returned about 500 million dollars (about N80 billion) of the Nigeria’s stolen money stashed away in its country by the late maximum military ruler, General Sani Abacha.

Outgoing Swiss Ambassador to Nigeria, Mr Andreas Baum, stated this in a chat with the News Agency of Nigeria (NAN), on Sunday.

The ambassador, who assumed duty in Nigeria in 2008 and leaves the country this month, said the funds were repatriated to Nigeria during the time of his predecessor.

Baum, however, said state fund looted by one of Abacha’s son was yet to be released to Nigeria as discussion on it was still ongoing.

The ambassador added that the Swiss authorities had institutionalised measures to safeguard its financial system from transfer of stolen wealth from Nigeria.

He disclosed that his country’s financial system had improved since the controversy surrounding Abacha loot became public knowledge.

“The Nigerian case is very important to us because the Abacha case helped us to improve our laws. We have put in place measures to ensure that the Swiss financial system is not abused with the transfer of such assets.

“It is an area we have put a lot of work in. We realised that there was a problem. The measures we have taken will prevent transfer of stolen wealth to our country.

“We have returned around 500 million dollars of the Abacha loot to Nigeria. That was done during the time of my predecessor. But there is still one ongoing case involving the son of Abacha,” he said.

The envoy, who described bilateral relations between the two countries as excellent, nonetheless, bemoaned the low volume of trade between the countries, which, he said currently stood at 500 million dollars.

He attributed the low bilateral trade volume to “informal and unaccounted trade.”

According to him, this is because a lot of Swiss products, mainly oil and pharmaceuticals, come into Nigeria through other countries.

“Some Swiss products come into Nigeria through the Netherlands; so it is sometimes difficult to have an accurate account of trade volume,” he added.



Source - http://tribune.com.ng/index.php/news/45380-weve-returned-500m-abacha-loot-swiss-envoy

Where this money dey go? who has seen the returned funds being used to rebuild the country? This guy convinently said the money was returned during the time of his predecessor so to answer this question, we have to go ask former ambassador........Naija magic wonder......

They returned it back for others to steal too.

rakumiii: Where this money dey go? who has seen the returned funds being used to rebuild the country? This guy convinently said the money was returned during the time of his predecessor so to answer this question, we have to go ask former ambassador........Naija magic wonder......

You dey find money wey don enter voicemail? OK, dey there na...

the money was relooted so they stopped the rest

My question is,what year was the money returned?Any evidence/prove to back such claim?I won't be suprised if the money had already exchange hand .No be Naija we dey?

[color=#770077][/color]how does dat change price of fuel or garri

80 billion naira,for dz country..dz our leaders get mind o,well dats just a free gift to doz in power den.

[size=20pt]Voicemail[/size]

Later that fool called Buhari, sorry Buwari, will come and claim that Abacha is not corrupted.

Before you start bringing GEJ's name in again because na d only work una get be dat ooo...he said his predecessor and he came into that office 2008,definately obasanjo's regime. Nor be GEJ

Nigeria my country

Chai!!

If he assumed duty in 2008 and 500 million dollars was returned to Nigeria during the time of his predecessor (not predecessors) then the money should be better explained by Obasanjo & Yar'adua that got elected in 1st April 07 (knowing Musa is late). Only a dunce will implicate GEJ in this.

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SO the 80 Billion Naira was returned before 2008; Who was President then ? And where is the Money ?

ifihearam: Before you start bringing GEJ's name in again because na d only work una get be dat ooo...he said his predecessor and he came into that office 2008,definately obasanjo's regime. Nor be GEJ

Dat eediot (Gej) is worse

From 1trillion of our money spent on his campaign by his subsidy thieves n colleagues

ϯo malibu oil scam

ϯo madam patience $450,000 corruption case while he. Was governor

Etc

Now after eating subsidy, eating phcn, his eyes r now on toll-gates

1word-Thief

them remove the money from fry pan return am put for fire

the 80billion is in obasanjo's otta farm

D-Explorer:
If he assumed duty in 2008 and 500 million dollars was returned to Nigeria during the time of his predecessor (not predecessors) then the money should be better explained by Obasanjo & Yar'adua that got elected in 1st April 07 (knowing Musa is late). Only a dunce will implicate GEJ in this.

u wan 2 free ur master abi wz he nt d vice

pastie: Later that fool called Buhari, sorry Buwari, will come and claim that Abacha is not corrupted.

Exactly. nt just Buhari(it was Abacha dat appointd Buhari as head of PTF by d way) bt it will amaze u hw many 'northerners' bliv Abacha was nt only noncorrupt bt see him nd AlMustapha as dier heros..dats one of d reasons i regard dier new found internet activism dat suddenly startd at d end of last electn, with some suspisions

Jambsupport:
u wan 2 free ur master abi wz he nt d vice

The only reason i'm replying is because i like to see women in politics. To your ques., official positions comes with a clearly defined responsibilities. Lass, the post of the V.P is excluded from such dealings as insinuated.

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I forsee the House of Reps members hitting on Obj soon for explanation, because Obj called them thieves and they will want to prove that Obj is the father of thieves. Oya, over to you House of Reps.

kunlekunle: the money was relooted so they stopped the rest

Exactly.

I remember creatin a thread "where's the returned abacha's loot? And the replies i got is what i'l stick wit.OF COS TIS HAS BEEN LOOTED

Jambsupport:
u wan 2 free ur master abi wz he nt d vice

Doz vice hv any say wen his master is on seat.

The money wear agbada and canvass run comot for switzerland e come dissappear for nigeria!

Oh, proceeds of loots 'windfall' for my corrupt leaders!

Just remember that if you loot carelessly yours will equally be repatriated someday.

The money is still going back to Swiss Bank, they would re-steal it again.

Who was it returned to?

berem: The money wear agbada and canvass run comot for switzerland e come dissappear for nigeria!

if not for this leaders we have,nigeria should be amoung the wealthiest country in the world.

$500 million returned, but over $20 billion of Nigeria's stolen money are suspected to be currently stashed in Swiss banks. Can Switzerland do without third world countries stolen wealth? A country with little conscience.... Schämen an den Schweiz !!