Switzerland To Transfer Another $300 Million Abacha Loot To Nigeria

The government of Switzerland is prepared to
transfer to the Nigerian government, another
$300 million recovered from the family of former
military ruler, Sani Abacha, foreign minister,
Geoffrey Onyeama, announced Monday.
The money is part of an estimated $5 billion
stolen and stashed in foreign accounts by the
late dictator.
Nigeria has in the last 10 years received over $1
billion from the Swiss and American
governments, but there are growing concerns
past administrations misused the huge sum.
PremiumTimes reported in December 2015 how
former finance minister, Ngozi Okonjo-Iweala,
with the approval of former President Goodluck
Jonathan, authorised the diversion of at least
N61.4 billion ($300 million and £5.5 million)
from funds recovered from Mr. Abacha, to the
Office of the National Security Adviser, Sambo
Dasuki, few weeks before the 2015 presidential
election.
The former minister said the money, which was
not approved by the National Assembly, was
meant for purchase of military equipment for the
fight against Boko Haram.
The money is believed to be part of at least $2.1
billion slush fund later distributed by Mr. Dasuki
to politicians ahead of the polls. An ongoing
investigation into the scandal as led to the
indictment of several high profile figures.