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Nairaland Forum / Nairaland / General / Politics / Switzerland To Return $380M Looted By Abacha To Nigeria (16889 Views)
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Switzerland To Return $380M Looted By Abacha To Nigeria by Sirniyeh(m): 6:50pm On Mar 17, 2015 |
Switzerland will return to Nigeria some $380 million (360 million euros) linked to ex-dictator Sani Abacha, Geneva’s public prosecutor said Tuesday, adding that it was closing a 16-year case on the funds. Abacha ruled oil-rich Nigeria with an iron fist from 1993 until he died in 1998. The economy grew under his rule, though he was seen as extremely corrupt and faced criticism over his human rights abuses in the oil-rich nation. The decision to return the funds follows a July 2014 deal between Nigeria and the Abacha family. Under the agreement, the funds would be confiscated and returned to Nigeria, while Abuja would drop its case against the deceased dictator’s son Abba Abacha. The $380 million had been placed in several accounts abroad that were controlled by the Abacha family, which is considered a criminal organisation, the Geneva prosecutors’ office said in a statement. The money was seized in 2006 in Luxembourg, under orders from the Swiss authorities. The Abacha family had also placed some $500 million (530 million euros) in Swiss banks, though those funds have already been returned to Nigeria. The $380 million will be returned under the World Bank’s supervision, said the prosecutor’s office. The authorities have also decided to drop their case against Abba Abacha, which began in 1999. In 2012, the dictator’s son was handed a one-year suspended prison sentence for participating in a criminal organisation. Switzerland’s top court cancelled the sentence in May 2014, citing procedural reasons. The Geneva prosecutor’s office on Tuesday said Abba Abacha has already been detained for 561 days from 2004 to 2006, without receiving compensation. The Abacha affair began in 1999, when Nigeria asked the Swiss judicial authorities to help it recover $2.2 billion ($2 billion euros) embezzled and siphoned off by Sani Abacha while he was in power. www.today.ng/news/switzerland-to-return-380m-looted-by-abacha-to-nigeria/ 1 Like 2 Shares |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by GboyegaD(m): 6:57pm On Mar 17, 2015 |
Yet the senate has granted approval to borrow $100m. Can they please revert their decision asap and approve he take the $100m from the returned money? 19 Likes 3 Shares |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by Nobody: 6:57pm On Mar 17, 2015 |
they should return the money n share it to the poor masses. money too much for 9ja ![]() 9 Likes |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by ozoigbondu: 7:09pm On Mar 17, 2015 |
Abacha did not steal Pa buhari 102 Likes 13 Shares |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by nelsonoba: 7:09pm On Mar 17, 2015 |
Sirniyeh: .....but I thought Buhari said Abacha's Government was not corrupt? Hmmm.......maybe somebody needs to send Buhari to school so he can learn the meaning of the word "corruption" 52 Likes 3 Shares |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by lokito: 7:13pm On Mar 17, 2015 |
"No matter what we can never be as wretched as Dangote" No wonder 17 Likes 1 Share |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by TS2(m): 7:14pm On Mar 17, 2015 |
Why are they even returning it sef when its not like it wont be restolen. 21 Likes 1 Share |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by gurunlocker: 7:15pm On Mar 17, 2015 |
chisos! them suppose go wake this abacha from grave and kill him again..... he no pity this country at all. This is first class embezzlement 15 Likes |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by Mogidi: 7:15pm On Mar 17, 2015 |
Yet Buhari said Abacha didn't steal any money, so much for an anti corruption crusader. In Buhari's warped mind, only southerner's steal, the money belongs to the north isn't it? 46 Likes 3 Shares
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Re: Switzerland To Return $380M Looted By Abacha To Nigeria by Nobody: 7:15pm On Mar 17, 2015 |
all the plan is set...... gate of hell would be open only if Gej wins there will be peace in Nigeria no Gej no Nigeria 6 Likes 1 Share |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by chiboy11(m): 7:15pm On Mar 17, 2015 |
And dis is d Abacha his kins Man Buhari claim he did not steal any money cuse he was part n parcel of d whole crime, may God help us in dis country 16 Likes |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by holatin(m): 7:16pm On Mar 17, 2015 |
hope they are not returning it before may 28. I don't want this case to become big thief collect from small thief. if dat money touch GEJ hand, I swear he will go on his sharing spree again sai baba for better Nigeria 14 Likes 1 Share |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by jeeqaa7(m): 7:16pm On Mar 17, 2015 |
Who dey collect all this money wen dem dey return? |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by SeverusSnape(m): 7:16pm On Mar 17, 2015 |
And Buhari said Abacha did not steal a dime. 11 Likes 1 Share |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by natureblack(m): 7:16pm On Mar 17, 2015 |
"The late military Head of State,Gen Sani Abacha,did not loot the national treasury,contrary to the general impression" - Buhari 10 Likes |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by speaktome(m): 7:16pm On Mar 17, 2015 |
AKPOS was baptized. The pastor dipped his head into water 3 times and said you are baptized. Your old sins are forgiven, you are a new creation, your new name is Jacob. No more drinking of alcohol. AKPOS went home and goes straight to his refrigerator, took all his alcohol bottles out, dipped them into water 3 times and said you're baptized, your old sins are forgiven, you're a new creation, your new name is fruit juice. one word for akpos ![]() 11 Likes |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by Nobody: 7:16pm On Mar 17, 2015 |
[size=20pt]Chai, Corruption for 9ja no be today, but as Abacha dey pack d money reach den, d economy was still FAIR then, and na only him dey pack d money mostly then, unlike today, wey oga presido go pack hin own, madam shepopo go pack, m*dueke, iw*ala and co go pack, all dese curruption dat ure doing, dairis God oooo![/size] 9 Likes |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by ejay84(m): 7:16pm On Mar 17, 2015 |
Nice one solong as it wuldnt go voice mail as usual. |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by ritababe(f): 7:16pm On Mar 17, 2015 |
Ok |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by kardinalzz(m): 7:17pm On Mar 17, 2015 |
See why we are still where u are? If him dey alive how we fit recover all this money ![]() |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by Swanky092: 7:17pm On Mar 17, 2015 |
GEJ till 2019 12 Likes 1 Share |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by SmooshCHN: 7:17pm On Mar 17, 2015 |
That money had better stay there cos getting here, it's already been shared like Birthday Cake. |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by ZACHIE: 7:17pm On Mar 17, 2015 |
They had better waited till the end of the election, please. If that money `lands` Naija now, i pity the am. The kind of knives waiting to slash and slaughter it is under sharpening edge now. Biko, wait o. Let GEJ carry him waste go first 1 Like |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by 2tek: 7:17pm On Mar 17, 2015 |
ozoigbondu: this is a confirmation that PaBuhari is also corrupt. He headed PTF under Abacha and benefitted immensely from fake contracts awarded. PaBuhari had the guts to tell Nigerians that Abacha did not steal. what a shame. Can you now see that PDP and Apc are the same. 19 Likes 2 Shares |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by IanDiamonds: 7:17pm On Mar 17, 2015 |
Please dont return it until May 29 when GEJ hands over... we don't want cluelessness pocketting this one oh!... 1 Like |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by Nobody: 7:17pm On Mar 17, 2015 |
SeverusSnape:the man brain is dead, he can't even remember his phone number 5 Likes |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by smilyice(m): 7:18pm On Mar 17, 2015 |
TS2:. True talk......it will definitely be looted again!!! Maybe God help Nigeria |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by hazyfm: 7:18pm On Mar 17, 2015 |
NOT UP TO THE AMOUNT SPENT BY JONATHAN TO BRIBE SOUTH WEST LEADERS... [size=18pt]CHICKEN CHANGE[/size] ... in Jonathan's voice
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Re: Switzerland To Return $380M Looted By Abacha To Nigeria by priscaoge(f): 7:18pm On Mar 17, 2015 |
[size=14pt] Good news ![]() ![]() ![]() And someone who ruled my forefathers, and still want to rule me(God Forbid) actually said that Abacha didn't steal ![]() ![]() ![]() Pa Buhari, God is watching u ![]() ![]() [/size] 8 Likes |
Re: Switzerland To Return $380M Looted By Abacha To Nigeria by latwiise20: 7:18pm On Mar 17, 2015 |
Jonathan nao av enuff funds for campain.. ![]() |
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