Switzerland has repatriated over $1billion Abacha loot to Nigeria, its Ambassador Eric Mayoraz aid yesterday in Abuja.

He added that his country is collaborating with the federal government to trace and repatriate looted funds stashed in foreign lands.

Mayoraz said “All fund hidden in Swiss banks by Abacha was fully repatriated and so we don’t have any of such fund in Switzerland again. $752m was returned in 2005 and we discovered more and more in other banks and that involved the $322.5m that was repatriated earlier this year.”

He spoke at the Forum on Asset Recovery hosted by the Swiss Embassy to discuss issues surrounding the Abacha 2 asset recovery between the two countries with many non-governmental organisations and representatives of international agencies in attendance.



Although the envoy declined to reveal details of the funds that would likely be repatriated back to Nigeria, he explained that the ongoing efforts are geared towards getting a positive result in line with the Mutual Legal Persistence Request agreement signed between the two countries.

Decrying what he termed lack of transparency in the Nigerian government’s handling of the funds, Mayoraz said the Swiss government insisted on the involvement of the World Bank in the management of the $322.5m to ensure that money was spent to alleviate the sufferings of the poor.

“Unfortunately, some of the assets that were returned, there was not so much transparency in it. So, we have to introduce the World Bank to get involved in this so that this particular one can be used by the Nigerian government with the monitoring of the World Bank”, he said.

Special Assistant to the President on Justice Reform, Mrs. Juliet Ibebaku-Nwagwu, said the administration of President Muhammadu Buhari has done a lot to engender the confidence of the Swiss government and other partners that the recovered assets would be deployed judiciously and transparently in line with the agreements reached.

She said the money would be deployed to service the Social Investment Scheme which is also an existing World Bank project.

“Let me just say this, we just want our money back. By this administration’s commitment to open government partnership, we want the people to be involved in the monitoring of the stolen assets that were returned. We also came up with the open budget process so that Nigerians would know every budget details and they can be checked online too.”



Executive Director of African Network for Environment and Economic Justice, Mr. David Ugolor, said there was a need to monitor the deployment of all recovered assets to “ensure that they are properly used for what they are meant for in Nigeria.”

http://thenationonlineng.net/switzerland-weve-repatriated-over-1b-abacha-loot/

The number one terrorist in Nigeria said...

Its funny how you borrow $2.1bn high interest rate loan for projects but decide to spend $322m (free money) on poor homes and idps which alleged payments have been going on for some years aside the looted grants from all over the world being donated towards that motive..

Whatever happened to new hospitals, propaganda roads and bridges, schools, low cost housing, good water etc, these are things that would alleviate the poor and not N5000 they would receive just twice before election.

If the grants, alleged payments, trucks of foods are being diverted.. what makes this one different?

$322m Abacha Loot: FG Begins Cash Transfer To Poor Homes

Abacha did not steal yet his loot is real. Abacha's loot came from Nigeria's crude oil, now it is being shared to strangers only. Is this fair? Was any study conducted to determine the poor?

see below:


Kano---------------North................................Language: Hausa
Katsina------------North.................................Language: Hausa
Kaduna------------North.................................Language: Hausa
Niger---------------North................................Language: Hausa
Kogi---------------North.................................Language: Hausa
Bauchi------------North..................................Language: Hausa
Gombe------------North.................................Language: Hausa
Jigawa------------North..................................Language: Hausa
Benue-------------North.................................Language: Hausa
Taraba------------North..................................Language: Hausa
Adamawa,--------North...............……...............Language: Hausa
Bornu-------------North....................................Language: Hausa
Plateau------------North..................................Language: Hausa
Nasarawa---------North.....................…….........Language: Hausa
Kwara------------North...................................Language: Hausa
Ekiti--------------south...................................Language: yoruba
Osun-------------south...................................Language: yoruba
Oyo---------------south..................................Language: yoruba
Cross River------south............……..................Language: efik
Anambra --------south...............……...............Language: ibo

.

It's absurd the white man claimed to have return a billion dollars, it means they're other unaccountable Billions stashed. Switzerland don chop Naija money no be small.

Abeg na conspiracy ooh.

I hope the money will not disappear into the thin air. cos in Nigeria, money like this disappears without trace.

Abacha the hero of Buhari who did not 'steal'...according to buhari

"Abacha Never Stole." ~ Buhari
"Do Not Glorify Thieves." ~ Buhari
"We've Returned Over $1billion ABACHA LOOT to Nigeria." ~ Switzerland.
"We are going to use ABACHA LOOT on the poor." ~ Buhari's pathetic govt.

Who's the pathetic liar and thieve glorifier here?
Bloody Illiterate.

who is responsible for their Poverty ?

So the collective wealth has been "saved" by Northerners in Switzerland and later repatriated for sharing among themselves '''


No wonder ABacha was not corrupt...He was only saving for their future generations. eDiot!

saaron:
"Abacha Never Stole." ~ Buhari
"Do Not Glorify Thieves." ~ Buhari
"We've Returned Over $1billion ABACHA LOOT to Nigeria." ~ Switzerland.

Who's the pathetic liar and thieve glorifier here?
Bloody Illiterate.

Buhari said, Abacha never stole

Russi:
who is responsible for their Poverty ?

So the collective wealth has been "saved" by Northerners in Switzerland and later repatriated for sharing among themselves '''


No wonder ABacha was not corrupt...He was only saving for their future generations. eDiot!

Abacha invested the money on behalf of the Northerners in Swiss banks.

like Nigeria like Switzerland aiding corruption.

Any NigerDeltan still shouting One Nigeria needs to have his medulla oblongata examined for stupidity.


NigerDelta money shared amongst the Northerners.

Russi:
who is responsible for their Poverty ?

So the collective wealth has been "saved" by Northerners in Switzerland and later repatriated for sharing among themselves '''


No wonder ABacha was not corrupt...He was only saving for their future generations. eDiot!

Dont mind the bloody hypocrites. Northerners are the most CORRUPT people in Nigeria. Their corruption knows no bounds because they embezzle with impunity and maintain a conspiracy of silence to protect their own. This is a FACT! The case of Baru, NNPC and the N1.4 billion subsidy payment without National Assembly approval is a good example.

But, that empty-headed fellow in Olumo Rock told us that Abacha did not steal




A thief glorifier is equally a thief.



Abeg lehme koman be goin

coolzeal:
It's absurd the white man claimed to have return a billion dollars, it means they're other unaccountable Billions stashed. Switzerland don chop Naija money no be small.

Abeg na conspiracy ooh.

It’s better that Switzerland keeps the money. That money in Switzerland will be far better utilised to improving their society. In Nigeria, It will just help find the extravagant lifestyle of Nigerian politicians. The Swiss government/politicians will invest it for there people. In Nigeria, It will be looted by the rich.

Abacha alerts from the grave