Nigerians will heave a sigh of relief after news broke that Switzerland will return to Nigeria some $380 million allegedly looted by ex-military ruler Sani Abacha.
An official of the Swiss Bank hinted that the transfer will be conducted under the supervision of the World Bank. The transfer will end a 16-year case against the Abacha family.
Switzerland has already returned $700m, following appeals from Nigeria.
The ex-military ruler, Abacha was Head of State in Nigeria from 1993 until his death in 1998. Soon thereafter, Nigeria’s new rulers asked Switzerland to help it recover $2.2bn that he had reportedly stashed in European bank accounts.
The $380m was seized in 2006 in Luxembourg, following a request from Swiss authorities. Democratic rule was restored in Nigeria a year after Abacha’s death.
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Kojo Agyeman/citifmonline.com/Ghana