The government of Switzerland has announced that it will be returning to the Nigerian government about $321 million from the seizure of assets from the family of the country’s former military leader Sani Abacha.
The Swiss government said the decision to return the said stolen state fund was as a result of a deal signed with the World Bank as well as with the Nigerian government.
In a statement, the Swiss government said “In accordance with policy on repayment of national assets taken illegally, Switzerland has agreed with Nigeria and the World Bank to return nearly $321m for the benefit of the Nigerian people.”
The former military ruler, Abacha has been accused by Transparency International, of looting public funds to the tune of $5 billion during his tenure from 1993 until his death in 1998.
In 2014, the Nigerian government and the family of Abacha reached an agreement for the return of the funds.
The president of Nigeria Muhammadu Buhari has promised to ensure that all state funds stolen by Nigerian politicians would be returned to the country as part of his efforts at fighting corruption.