According to major Nigerian news media like the Vanguard and Punch Switzerland returned $700 million of Abacha's loot 2 days ago. I would leave the discussions of how the money would be spent by the corrupt Nigerian government for another day and go down to the analysis how how Switzerland has swindled Nigeria by returning only $700 million.

According to The Swiss Bankers association...Abacha banked the money around 1997 or 16 years ago. According to US treasury estimates, 16 years ago the worth of $1 is equal to the worth of $5 dollars of todays money. For example in 1997, $1 could purchase 2 loafs of american bread, but today you need at least $5 to do that. This is just a simple way of explaining the level of inflation for all to understand.

In the case of the Abacha loot. $700 million which he originally banked is worth 5x that amount today if you add annual inflation it. This means that if the money was kept in a fixed asset like gold so that inflation does not determine its value, then, the money would be worth at least $3.5billion. In summary, Switzerland has made by far more than the money that was banked and they have just given Nigerian peanuts.

This is part of the foolishness of the Jonathanian governemt. Sadly, the "peanuts" that was returned will still be looted by the corrupt inept and profligate government of GEJ who's PDP is already a sinking ship! Some people will be like how do I know. Well it is very simple, The Nigerian senate reported that N500billion of SURE-P money was missing. Also, Amaechi reported that $5billion of the Excess crude account was missing...What makes $700 million sacred? Absolutely nothing!

We must vote Jonathan out in 2015

d

cramjones: We must vote Jonathan out in 2015

YES! YES!! YES!!!

Ok, that means they will steal the money that was stolen before and I don't think that's a big deal because it has been happening before.

The whites dat allowed swiss banking to be diff are not fools, the world is based on who can use whose head pass, what if dey didn't return d 700m wat can our toothless govt do , after all dem go still share d money ,

John Frankling: Ok, that means they will steal the money that was stolen before and I don't think that's a big deal because it has been happening before.

Beeni o, Ole gbe! ole gba!

I like this old troll