News

No Abacha loot in our country – Switzerland

Published

6 years ago

June 28, 2018

The Government of Switzerland has claimed that there is no more Abacha loot left under their country following the successful repatriation to Nigeria of over $1 billion stashed away by the late Nigerian Head of State.
The Swiss Ambassador to Nigeria, Eric Mayoraz, stated this at a ceremony hosted by the embassy to examine asset recovery efforts between Nigeria and Switzerland using the ‘Abacha loot’ as a focus.

According to the ambassador, the Switzerland had earlier returned $752 million, which the late dictator and family hid away in Swiss banks to Nigeria and recently repatriated another $321 million, which is being domiciled in Nigeria’s Central Bank.

Mayoraz said that with new legislations already put in place in Switzerland, it would be impossible to steal Nigeria’s money and stash it away in any part of Switzerland.

He added, “As a way out of what led to Abacha loot, we have signed a Mutual Legal Assistance treaty with Nigeria and it is meant to enable us to track and expose those who want to bring in illicit wealth and prosecute them in accordance with the laws in place.”

“It is to be made clear that the new laws in Switzerland do not allow for any stolen wealth to be kept in any place in the country,” the ambassador added.