Nigeria recovers $100m looted fund from Switzerland

The Minister of Foreign Affairs, Geoffrey Onyeama, has assured Nigerians that negotiations are ongoing with a number of countries on the modalities for the repatriation of some looted funds stashed abroad.

The minister stated this at the inaugural ceremony of the 22nd regular course of Foreign Service Academy in Abuja.

Onyeama said that the Federal Government had been in touch with
Switzerland, which he said, had earlier repatriated $700m to Nigeria. He noted that another $300m that was recovered would soon be repatriated to Nigeria.

Speaking in an interview with journalists in Abuja, Onyeama stated that the Federal Government was in discussion with the United Kingdom, the United States, among other foreign governments around the world, on how all looted funds could be recovered.

 

He said, "We are in touch with Switzerland; they have recently recovered quite a significant amount of money and I met last week with Swiss representatives to work out the modality for the repatriation of the funds.

"The Swiss government has already repatriated over $700m from (the late Gen. Sani) Abacha loot and that agreement has been reached on how the money would be applied.

"They have also now recovered in the same context another $300m of which there is ongoing discussion to have that repatriated as well. There are discussions with other countries; United Kingdom for instance, as you all know, is one of the countries we are discussing with on how to recover looted funds.

The minister explained that the goodwill generated by President Muhammadu Buhari's visits to the US and other countries had helped in getting various nations to cooperate with Nigeria on the loot recovery drive.
 

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