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LequteMan
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Nigeria- Switzerland is set to return some $380 million (360 million euros) linked to ex-dictator Sani Abacha to Nigeria, in a bid to close a 16-year case on the funds. Daily Mail reports.
The $380 million, seized by Swiss authorities in 2006, 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 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 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
The Abacha family had also placed some $500 million (530 million euros) in Swiss banks, though those funds have already been returned to Nigeria.
#Abacha #Nigeria #Switzerland #Sani
The $380 million, seized by Swiss authorities in 2006, 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 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 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
The Abacha family had also placed some $500 million (530 million euros) in Swiss banks, though those funds have already been returned to Nigeria.
#Abacha #Nigeria #Switzerland #Sani
