Switzerland will return to Nigeria some $380 million
(360 million euros) linked to ex-dictator Sani Abacha,
Geneva’s public prosecutor said Tuesday, adding that it was closing a 16-year case on the funds.

Abacha ruled oil-rich Nigeria with an iron fist from 1993 until he died in 1998. The economy grew under his rule, though he was seen as extremely corrupt and faced criticism over his human rights abuses in the oil-rich nation.

The decision to return the funds follows a July 2014 deal between Nigeria and the Abacha family. Under the agreement, the funds would be confiscated and returned to Nigeria, while Abuja would drop its case
against the deceased dictator’s son Abba Abacha.

The $380 million had been placed in several accounts
abroad that were controlled by the Abacha family,
which is considered a criminal organisation, the Geneva prosecutors’ office said in a statement.

The money was seized in 2006 in Luxembourg, under
orders from the Swiss authorities. The Abacha family had also placed some $500 million (530 million euros) in Swiss banks, though those funds have already been returned to Nigeria.

The $380 million will be returned under the World
Bank’s supervision, said the prosecutor’s office.
The authorities have also decided to drop their case
against Abba Abacha, which began in 1999.

In 2012, the dictator’s son was handed a one-year
suspended prison sentence for participating in a
criminal organisation.

Switzerland’s top court cancelled the sentence in May
2014, citing procedural reasons. The Geneva prosecutor’s office on Tuesday said Abba Abacha has already been detained for 561 days from 2004 to 2006, without receiving compensation.

The Abacha affair began in 1999, when Nigeria asked the Swiss judicial authorities to help it recover $2.2 billion ($2 billion euros) embezzled and siphoned off by Sani Abacha while he was in power.

www.today.ng/news/switzerland-to-return-380m-looted-by-abacha-to-nigeria/

Yet the senate has granted approval to borrow $100m. Can they please revert their decision asap and approve he take the $100m from the returned money?

they should return the money n share it to the poor masses. money too much for 9ja

Abacha did not steal
Pa buhari

Sirniyeh:
www.today.ng/news/switzerland-to-return-380m-looted-by-abacha-to-nigeria/

Switzerland will return to Nigeria some $380 million
(360 million euros) linked to ex-dictator Sani Abacha,
Geneva’s public prosecutor said Tuesday, adding that it was closing a 16-year case on the funds.

Abacha ruled oil-rich Nigeria with an iron fist from 1993 until he died in 1998. The economy grew under his rule, though he was seen as extremely corrupt and faced criticism over his human rights abuses in the oil-rich nation.

The decision to return the funds follows a July 2014 deal between Nigeria and the Abacha family. Under the agreement, the funds would be confiscated and returned to Nigeria, while Abuja would drop its case
against the deceased dictator’s son Abba Abacha.

The $380 million had been placed in several accounts
abroad that were controlled by the Abacha family,
which is considered a criminal organisation, the Geneva prosecutors’ office said in a statement.

The money was seized in 2006 in Luxembourg, under
orders from the Swiss authorities. The Abacha family had also placed some $500 million (530 million euros) in Swiss banks, though those funds have already been returned to Nigeria.

The $380 million will be returned under the World
Bank’s supervision, said the prosecutor’s office.
The authorities have also decided to drop their case
against Abba Abacha, which began in 1999.

In 2012, the dictator’s son was handed a one-year
suspended prison sentence for participating in a
criminal organisation.

Switzerland’s top court cancelled the sentence in May
2014, citing procedural reasons. The Geneva prosecutor’s office on Tuesday said Abba Abacha has already been detained for 561 days from 2004 to 2006, without receiving compensation.

The Abacha affair began in 1999, when Nigeria asked the Swiss judicial authorities to help it recover $2.2 billion ($2 billion euros) embezzled and siphoned off by Sani Abacha while he was in power.

.....but I thought Buhari said Abacha's Government was not corrupt?

Hmmm.......maybe somebody needs to send Buhari to school so he can learn the meaning of the word "corruption"

"No matter what we can never be as wretched as Dangote"

No wonder

Why are they even returning it sef when its not like it wont be restolen.

chisos! them suppose go wake this abacha from grave and kill him again.....

he no pity this country at all. This is first class embezzlement

Yet Buhari said Abacha didn't steal any money, so much for an anti corruption crusader.
In Buhari's warped mind, only southerner's steal, the money belongs to the north isn't it?

all the plan is set......
gate of hell would be open
only if Gej wins there will be peace in Nigeria
no Gej no Nigeria

And dis is d Abacha his kins Man Buhari claim he did not steal any money cuse he was part n parcel of d whole crime, may God help us in dis country

hope they are not returning it before may 28.

I don't want this case to become big thief collect from small thief.

if dat money touch GEJ hand, I swear he will go on his sharing spree again

sai baba for better Nigeria

Who dey collect all this money wen dem dey return?

And Buhari said Abacha did not steal a dime.

AKPOS was baptized. The pastor dipped his head into water 3 times and said you are baptized. Your old sins are forgiven, you are a new creation, your new name is Jacob. No more drinking of alcohol. AKPOS went home and goes straight to his refrigerator, took all his alcohol bottles out, dipped them into water 3 times and said you're baptized, your old sins are forgiven, you're a new creation, your new name is fruit juice.
one word for akpos?

Nice one solong as it wuldnt go voice mail as usual.

Ok

See why we are still where u are? If him dey alive how we fit recover all this money?? McGee black man mentality na to gather for limitless numbers of generations

GEJ till 2019

That money had better stay there cos getting here, it's already been shared like Birthday Cake.

They had better waited till the end of the election, please.
If that money `lands` Naija now, i pity the am.

The kind of knives waiting to slash and slaughter it is under sharpening edge now.

Biko, wait o. Let GEJ carry him waste go first

ozoigbondu:
Abacha did not steal
Pa buhari

this is a confirmation that PaBuhari is also corrupt. He headed PTF under Abacha and benefitted immensely from fake contracts awarded.
PaBuhari had the guts to tell Nigerians that Abacha did not steal. what a shame. Can you now see that PDP and Apc are the same.

Please dont return it until May 29 when GEJ hands over... we don't want cluelessness pocketting this one oh!...

SeverusSnape:
And Buhari said Abacha did not steal a dime.

the man brain is dead, he can't even remember his phone number

TS2:
Why are they even returning it sef when its not like it wont be restolen.

. True talk......it will definitely be looted again!!! Maybe God help Nigeria

NOT UP TO THE AMOUNT SPENT BY JONATHAN TO BRIBE SOUTH WEST LEADERS...



[size=18pt]CHICKEN CHANGE[/size] ... in Jonathan's voice

Jonathan nao av enuff funds for campain..