$321m Abacha Loot: FG Debunks Report Of $79m Commission To Swiss Govt
Posted on December 11, 2016
The Federal Government on Saturday debunked report that it has agreed to pay a $79 million commission to the Swiss government as part of conditions for repatriation of the Abacha loot.
A statement released by Festus Akanbi, SA Media to the Minister of Finance, Mrs Kemi Adeosun, said that the Honourable Minister clarified that the amount payable to Nigeria from Switzerland is $321 million, and is being returned to Nigeria for projects which are subject to verification by the World Bank.
“The recovery process is ongoing with the Swiss authorities and the World Bank has agreed to undertake the required verification,” the minister said.
She stated that there is no deduction of $79 million as suggested in the report which is both “misleading and inaccurate”.
Adeosun assured that recovery will be made in full and that there is no commitment nor requirement to pay any commission.
“The Federal Government is committed to securing the return of all looted funds in their entirety and has never entered into any sharing arrangement as suggested in the report.”
Intense efforts continue to secure all monies due to Nigeria including an additional $400 million of Abacha loot held up in US Courts on which the Attorney General of the Federation and the Ministry of Finance are engaging with their US counterparts to secure expeditiously.
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