Swiss Ambassador Confirms Return Of $700m Looted by Sani Abacha to the Nigerian Government – So, Where Is The Money?Posted on Wednesday, December 5th, 2012 at 2:29 PM
By Adeola Adeyemo
Before the mysterious death of Nigeria’s former Military Head of State, Sani Abacha, he looted at least $2 billion of the country’s wealth and stashed the money in Swiss and Luxemburg bank accounts. His son, Abba was convicted in 2010 for his role in the plundering of Nigerian funds. His trial in another corruption related suit is still on going in Swiss court.
The Ambassador of Switzerland to Nigeria, Hans-Rudolf Hodel however said yesterday in Abuja that the Swiss government has so far returned $700 million to the Nigerian government from the billions looted.
According to The Will, the Ambassador said during a press briefing by the Swiss Embassy on money laundering and terrorism that Nigeria was not the only country the Swiss government has returned stolen funds to. He said his government has so far returned over N1.7 billion dollars to the governments of Nigeria, Angola, Peru and the Philippines adding that they remain committed to returning funds stolen from African states and other developing nations by corrupt leaders.
This revelation by the Swiss Ambassador now raises more questions. Where is the money? What has been done with these returned funds from the Swiss government?
The federal government of Nigeria has not come clean with what it has done with all the funds it has managed to recover not only from the Swiss government, but from most of the thieving ruling class. In the face of dire economic challenges we face as as a result of the mishandling of funds meant for the nation’s development, Nigerians deserve an explanation.