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We’ll return $321m Abacha’s loot for benefit of Nigerians – Switzerland

Around $321 million in public funds stolen by former Nigerian dictator Sani Abacha will be returned to the African country, Switzerland said Monday.

The money, originally deposited in Luxembourg, was confiscated by a Swiss court in late 2014 and in March last year the two states signed an agreement on its repatriation.

“In accordance with policy on repayment of national assets taken illegally, Switzerland has agreed with Nigeria and the World Bank to return nearly US$321 for the benefit of the Nigerian people,” the Swiss government said in a statement.

Military ruler Abacha, in power from 1993 until his death in 1998, is suspected to have embezzled $2.2 billion from Nigeria’s central bank in what the United States has called “brazen acts of kleptocracy”.

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