BEVERLY HILLS, October 26, (THEWILL) – Nigeria and Switzerland have reached a deal to return $321 million seized from the family of late dictator, General Sani Abacha.
The Minister of Justice and Attorney General of the Federation (AGF), Abubakar Malami (SAN) announced the development on Thursday saying, negotiations have been concluded with the Swiss authorities.
Malami also announced the recovery of $85m from the controversial Malabu Restrained Funds from United Kingdom (UK).
Spokesman to the Minister, Salihu Isah, in a statement Thursday, said Malami disclosed these in Abuja at a Pre-Global Forum on Asset Recovery (GFAR) Consultative meeting with the theme: “Building an ending framework for asset recovery in Nigeria.”
Isah quoted Malami as saying that with the conclusion of negotiation, the Memorandum of Understanding will be signed by parties at the Global Forum on Assets Recovery meeting to be held on between December 4 and 6 in Washington.
He said after parties’ endorsement of the MOU, the repatriation of the funds would follow within weeks as agreed by the parties.
He added that Malami stressed the need for the international community to ensure the implementation of measures considered and adopted at the London Anti-Corruption Summit in May, 2016.
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