Switzerland to repatriate $321m Abacha loot

Nigeria and Switzerland on Friday signed a Memorandum of Understanding (MoU) on the repatriation of $321 million stashed in the European nation’s banks by the late maximum ruler, Gen. Sani Abacha.

The pact also seeks to block accounts linked to stolen funds.

This is the second batch of the stolen money linked to the late Abacha.

Switzerland also repatriated $722m to Nigeria in 2005.

The Swiss Ambassador to Nigeria, Eric Mayoraz, hinted that both countries are now in the process of repatriating the looted fund.