Switzerland On The Verge Of Returning $380 Million Abacha Loot To Nigeria

Geneva prosecutors said yesterday, Tuesday March 17, that the Swiss government has concluded plans to return $380 million to Nigeria, which is part of money stashed in Swiss banks by former military president, Gen. Sani Abacha while he was in power. It was disclosed that they ordered the money seized in Luxembourg starting in 2006 and was officially confiscated last year to be released following an agreement between Nigeria and the Abacha family under which Federal Government dropped its case against Abacha's son, Abba Abacha.


Switzerland has previously returned to Nigeria more than $700 million that Abacha stashed in Swiss accounts. If the Swiss government makes this new cash return, it would bring the total amount of Abacha's loot returned so far to $1.080 billion.