Switzerland to return $380M stolen by late dictator

monjola sotubo

March 18, 2015 7:56 AM

The money was initially seized in Luxembourg in 2006 after which it was transferred to Switzerland in 2014, Geneva prosecutors revealed.

The Swiss government is set to return about $380 million (N75.2bn) to Nigeria as part of loot stolen by late dictator, Sani Abacha.

“The $380m in question was seized in Luxembourg in 2006 on the orders of the Geneva justice authorities. The funds were under the control of various companies controlled by the Abacha family, which is considered a criminal organisation,” the prosecutor’s office said in a statement.

The process of returning the money to Nigeria will be supervised by the World Bank.

‎Funds looted by the late dictator have also been recovered from Liechtenstein, and Channels Island while $480 million seized by the US has not been returned.

monjola sotubo