BEVERLY HILLS, JULY 29, (THEWILL) – Nigeria and Switzerland have signed a Memorandum of Understanding (MoU) on the repatriation of $321 million deposited in the European nation’s banks by the late Nigerian ruler, Gen. Sani Abacha.
The Swiss Ambassador to Nigeria, Eric Mayoraz, made this known on Friday during the signing of MoU on Mutual Legal Assistance on criminal matters, between the Swiss government and the Federal Government in Abuja.
He hinted that both countries are now in the process of repatriating the looted fund adding that the MoU will help remove all the legal bottlenecks in the fund repatriation.
Mayoraz added that Friday’s event is significant in the sense that it would eradicate every bottlenecks associated with the repatriation of stolen funds kept in his country.
“We are now in the process of repatriating $321m from the second batch of the Abacha loot,” he revealed.
“Our countries enjoy excellent relations and we cooperate as partners in many fields, particularly on the return of looted assets, migration, human rights, humanitarian assistance and many others.
“Today, we decide to take this cooperation forward to deepen it in the field of judicial cooperation. By signing a Memorandum of Understanding in this important area, our two states further strengthen their ties of friendship and cooperation.”
This is the second batch of the stolen money linked to the late Abacha as Switzerland also repatriated $722m to Nigeria in 2005.
Story by David Oputah
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