Switzerland returns $380 million Abacha loot

Late Sani Abacha

About $380 million Nigerian money, stolen and stashed in accounts in Switzerland by late Head of State, Sani Abacha, will be returned, Swiss officials said Tuesday.‎

The money was confiscated in 2014 after it was transferred to the country from Luxembourg where it had been seized since 2006, Geneva prosecutors said.

This followed an agreement between the Nigerian Government and the family of the late dictator.

‎The money was confiscated on the ground that the Abacha family was a criminal organisation, according to the Swiss authorities.

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

‎With the return, Geneva prosecutors have closed their case with the Abacha family which was opened in 1999. Abba Abacha was the last member of the family under investigation.

‎Meanwhile, previously Switzerland has returned to Nigeria more than $700 million that late Abacha hid in Swiss accounts.

NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required


Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: To place a text-based advert here. Call Willie - +2347088095401

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.