The federal government has said a framework that will make it easier to trace and repatriate stolen assets stashed abroad is being worked out even as it signed an agreement with Switzerland for the restitution of illegally-acquired assets forfeited in Switzerland by the family of the late Head of State, General Sani Abacha.
The Vice President, Professor Yemi Osinbajo, disclosed this on Tuesday at the Presidential Villa in Abuja during a meeting with a Swiss delegation led by the country’s Federal Councillor and Head of its Foreign Affairs Department, Mr. Didier Burkhalter, and the Swiss Ambassador to Nigeria, Mr. Eric Mayoruz.
According to him, the framework once finalised, will be made available to the public and it would cover the whole spectrum from the source of the stolen asset to how it would be managed once recovered.
He said: “The framework will guarantee that returned assets will be used in the interest of the people of this country.”
Osinbajo told the Swiss government that the $321 million Abacha loot to be returned to Nigerian would be used judiciously.
He said Nigerian government welcomed the decision of the Swiss to return the Abacha loot.
Osinbajo said: “We guarantee that recovered assets would be put to uses for which they have been intended.”
Commending the Swiss government assistance in repatriating the country’s stolen assets, the vice-president said the federal government appreciated her laudable efforts, noting that the “Swiss has always been at the forefront of returning stolen assets and ensuring that the people of Nigeria get the benefit.”
Later, the Attorney-General of the Federation and Justice Minister, Mr. Abubakar Malami (SAN), signed an agreement described as a “Letter of Intent” between the Swiss and Nigerian governments on the restitution of illegally-acquired assets forfeited in Switzerland.
Burkhalter signed the letter on behalf of Swiss government.
Under the agreement, the Swiss government will award to Nigeria $321 million “of funds illicitly acquired by the Abacha’s family, initially deposited in Luxembourg and confiscated by the Judiciary of the Republic and canton of Geneva pursuant to a Forfeiture order .
Thisday cullage
I love the calmness of the VP...Infact I LOVE THE MAN.
So...finally this Abacha loot go return to its motherland?Praise God!
Judicious use? That's d lie of d century.
ReplyDeleteSo all this years these thieves did not deem it fit to return the loot, but using it to better their country's economy? Haha oyibo wicked gan.
ReplyDeleteThey should make use of it very well
ReplyDeleteSo a Friend said it's double standard on Buhari's part. He has never admitted Abacha was corrupt, yet he is expecting $321 million from d Abacha loot.
ReplyDeleteWell in Buhari's defence, Abacha never looted the money, Abacha is another nostradamos (the man
who saw the future) as he always knew Buhari will one day become president again and will be in
need of the money... Our President must be very confused if he still insist that Abacha never looted our money.
*Larry was here*
If only it will Be Use Well, I Love
ReplyDeleteBubu is not working.
ReplyDeleteBubu is not working.
ReplyDeleteThis abacha loot no dey finish sef?..
ReplyDeleteThey should wire the money to my account ASAP because i would need it for my new project.
ReplyDeleteClick on my ID sharp sharp for the Events happening in Abuja, plus correct content.
Abacha wise Man, see how he prepared Nigeria for Rainy days, he saved a lot for successive regimes...
ReplyDeleteInHouseNews.................................. welcome.
ReplyDeleteexpecting memo today? make we see.... era of memo
$321 million from one person......hmmmm
ReplyDeleteHow much exactly did this man steal?!
ReplyDeleteI hope is put to good use.. Perhaps build industries with it which will create jobs..
ReplyDeleteI hope it will be put to good use sha
ReplyDeleteSo Gumsu abacha blocked me on Twitter because I referred someone praising abacha to read the latest loot returned to Nigeria.
ReplyDeleteBet really the man been try ooo. He knew naija will be broke so he saved for the future.
Meanwhile bubu come here, what do you have to say about all them loot back then she I u were part of his administration.
Thiefry pipu efrywia!
Forget Gumsu. She's in denial. Or better still, she tries to create or super impose a vague personality that is the opposite of her father's history/personality. Gumsu, simply put, is an empty barrel. Yep!
DeleteI just hope it wouldn't still end up in another wrong hands. They are yet to account for they have recovered so far. Najia will surely get better someday.
ReplyDeleteTheir loot is called "erima agwu-agwu".
ReplyDeletehmmmm so this money no dey finish?
Trust them to share it among themselves
ReplyDeleteAbacha loot sha
ReplyDelete$321 is a chicken change compare to money Abacha looted. Believe me because as far am concerned dangote is worth more than this money and kudirat said no matter how much money was seize from her family she can never be as poor as dangote. God help us oh nah we dey curse our problem for this country.
ReplyDeleteMiriam.
Delete