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Swiss Ambassador Confirms Return Of $700m Looted by Sani Abacha to the Nigerian Government – So, Where Is The Money?



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.

Adeola Adeyemo is a graduate of Industrial Relations and Personnel Management from University of Lagos. However, her passion is writing and she worked as a reporter with NEXT Newspaper. She believes that anything can be written about; anything can be a story depending on the angle it is seen from and the writer's imagination. When she is not writing news or feature articles, she slips into her fantasies and creates interesting fiction pieces. She blogs at


  1. T Baba aka On My Way to Gidi for Holidays

    December 5, 2012 at 2:41 pm

    And the SAGA continues… The government has made up their minds that we are ZOMBIES, They are just controlling us like remote controls… MY PEOPLE, THIS REVOLUTION WILL BE TELEVISED…

    Zombie o, zombie (Zombie o, zombie)
    Zombie o, zombie (Zombie o, zombie)

    Zombie no go go, unless you tell am to go (Zombie)
    Zombie no go stop, unless you tell am to stop (Zombie)
    Zombie no go turn, unless you tell am to turn (Zombie)
    Zombie no go think, unless you tell am to think (Zombie)

    Tell am to go straight
    A joro, jara, joro
    No break, no job, no sense
    A joro, jara, joro
    Tell am to go kill
    A joro, jara, joro
    No break, no job, no sense
    A joro, jara, joro
    Tell am to go quench
    A joro, jara, joro
    No break, no job, no sense
    A joro, jara, joro

    Go and kill! (Joro, jaro, joro)
    Go and die! (Joro, jaro, joro)
    Go and quench! (Joro, jaro, joro)
    Put am for reverse! (Joro, jaro, joro)

    Joro, jara, joro, zombie wey na one way
    Joro, jara, joro, zombie wey na one way
    Joro, jara, joro, zombie wey na one way

    Joro, jara, joro

    Attention! (Zombie)
    Quick march!
    Slow march! (Zombie)
    Left turn!
    Right turn! (Zombie)
    About turn!
    Double up! (Zombie)
    Open your hat! (Zombie)
    Stand at ease!
    Fall in! (Zombie)
    Fall out!
    Fall down! (Zombie)
    Get ready!




    • Cate

      December 5, 2012 at 3:08 pm


    • Lue

      December 5, 2012 at 3:23 pm


  2. sad!!!!!!!

    December 5, 2012 at 2:42 pm

    RIP nollywood actor, Enebeli Enebuwa

  3. Fan

    December 5, 2012 at 2:55 pm

    Feeding Allowance in Aso rock, fleet of 10 Presidential Air crafts, Patience Treatment in Germany and other presidential largees… The Nigerian is not serious about eradicating corruption, i only make noise when he is not the one chopping.

  4. ruth

    December 5, 2012 at 2:57 pm

    we sure nid an explanation 2 dis madness.dr r soo may untold stories,dis is jst 1 of many.may God help our country.

  5. Mz Socially Awkward...

    December 5, 2012 at 2:58 pm

    THIEVES! One dies, a bigger one assumes power… I reiterate my comments from a related post on BN, their destruction is coming soon.

  6. Concerned Native

    December 5, 2012 at 3:01 pm

    wait…wait… bella naija, why u dey ask this kind question when you know the answer, these thieves dont get punished and money they get back to rethief and share amongst themselves. SMH!! .May God help us, but i must tell nigeria ( laughing inside) this is one of the reasons nzeogwu and his friends started its first coup,so please dont let history repeat itself, for it is those who dont learn from history that are doomed to repeat it… and it looks like we are drawing near to pushing the repeat button.

  7. Jiddah

    December 5, 2012 at 3:01 pm

    Million dollar question

  8. Fan

    December 5, 2012 at 3:05 pm

    There was an earlier post celebrating the success of a Mrs Alakija of being the richest black African woman as well. I read her brief on how she came into the oil industry and it didn’t add up… We should ask ourselves the question why did the then Babangida Goverment (military) award a major oil block to a fashion designer. What expertise did she posses to have won such a major bid?

    Nigerians need to stop celebrating results, lets start celebrating efforts and credible processes. I am not knocking her hustle all am saying is lets stop criticizing the thief that has been caught but thieves in general.

  9. pynk

    December 5, 2012 at 3:14 pm

    lmao, it must be insignificant, cos ABACHA kids are still balling.

  10. Gold

    December 5, 2012 at 3:21 pm

    We deserve ANSWERS to this question!!

    • Idak

      December 5, 2012 at 6:54 pm

      na today!!!

  11. Mousepad

    December 5, 2012 at 3:24 pm

    Africa o’ Africa! when will redemption come??? Maybe never!

  12. ij

    December 5, 2012 at 3:30 pm

    it has been re-looted noni

  13. Lola

    December 5, 2012 at 3:46 pm

    LOL @ T Baba..

    I am on my way to Lagos to for xmas.. Abeg someone needs to tell me who has the money make I go jollof with them..

    If you cant beat them, join them so shoe no go spoil for ur leg

  14. Seriously

    December 5, 2012 at 4:02 pm

    From the pockets of one crook to another..

  15. ao

    December 5, 2012 at 4:17 pm

    I commend the Swiss government for their integrity. However, I wish they had not given the money directly back to the Nigerian government because it will simply be re-looted by another despot leader. Instead, the Swiss government should have given the money in bits with condition that the money be used to uplift the Nigerian people by way of infracstructure development and failure to do so would result in the Swiss government keeping the rest of the money or dashing it to UNICEF or some worthy organization that will actually help people. In the alternative, the Swiss government could have also used the money to pay for Nigerians to attend Swiss universities and colleges. At least the money will be used for good.

    • Nneka

      December 5, 2012 at 5:55 pm

      I see your point but think about it this way…if someone stole your money and gave it to me to keep, would you like me to spell out conditions, terms on which you can receive your money back? The answer is NO. It is not Switzerland’s problem what Nigeria decides to do with the money, it’s Nigeria’s problem. Your reasoning take the focus off the real matter and assumes that the Swiss bear some responsibility towards ensuring that Nigeria’s ‘democratic’ rug-rats in power do the right thing. That responsibility lies with you and I my dear.

    • ao

      December 6, 2012 at 2:18 am

      I beg to differ. You can view the situation in a vacuum as you did in your comment or you can base things in reality. The Swiss have a right to place conditions on the money especially when their country and many other countries in Europe are dealing with an influx of legal and illegal immigrants from Nigeria and the rest of Africa who are trying to escape to greener pastures simply because their leaders are stealing money that should be used for development. In addition, the thousands of Nigerians and other Africans that travel to Switzerland and the West in general in order to access basic services they should be getting in their home country such as healthcare, education, security, etc,, are also reasons why the Swiss government should place conditions on the money since they have to bear the financial and social impact of Nigerian immigration into their country.

    • Monica

      December 6, 2012 at 7:57 am

      exactly jare. Swiss government dont owe Nigeria anything so why would they give themselves the added headache of formulating conditions and staged release of the funds etc.

    • Bleed blue

      December 6, 2012 at 1:24 pm

      ao you say the Swiss government has the right. Do they have the authority? And furthermore do they have the legitimacy to carry out what you’re proferring?

      I stand with you in your frustration and your suggestion is indeed a laudable approach BUT one must think of practicality first.

    • jyde

      December 10, 2012 at 1:58 am

      wetin concern swiss inside?
      dead body dey buy coffin?

  16. RIP Enebeli

    December 5, 2012 at 4:18 pm

    @T Baba…like seriously? U get time

    • Naveah

      December 6, 2012 at 3:59 pm

      Go look for your sense of humor somewhere and leave T Baba alone! Instead of making a personal comment, he used an iconic song from a legendary activist/musician to make a point. Nigerians are ZOMBIES! They are walking around like they’ve been lobotomized since the British took leave of our shores and let me use another song by Fela, they are SUFFERING AND SMILING!

  17. dont mention

    December 5, 2012 at 4:58 pm

    this is very sad, considering all the noise gej has been making of late anbt funds for whatever. God will def judge them oh.

  18. pinto

    December 5, 2012 at 5:22 pm

    Nigeria needs help.I cant think of any other country as a “failed state”apart from Somalia.

  19. Brandigest

    December 5, 2012 at 5:38 pm

    I see no CHANGE in this clime… The loot is what made our govt officials have fat wallets. The returned money stopped somewhere in the corridors of power

  20. Foxy

    December 5, 2012 at 6:13 pm

    Any society that has lost it’s essence like Nigeria is a Failed State. We need to stop deceiving ourselves. It is not God’s job to help Nigeria. And please we have no business comparing ourselves with other African countries. Most of them have gone way ahead of us. Our materialism in this country will be our end for sure. Even a revolution will not help Nigeria. It will be the worst thing that can happen at this point because millions of people will die in vain. International intervention though inconceivable is the only chance Nigeria has got. No Nigerian can change the country.

  21. babe

    December 5, 2012 at 9:13 pm

    When we are all silent, why won’t gej misuse our funds. D earlier we speak up the better. Gej’s corruption is extreme

  22. fussylizy

    December 5, 2012 at 11:00 pm

    I am imagining how many roads, well equipped hospitals and schools $700m would build in all parts o Nigeria. In a sane and organized society, such oodles of money will not go unaccounted for. Shame on our self serving government.

  23. Ashley

    December 6, 2012 at 12:33 am

    Guys!!!! like PAC said, thats just the way it is, (these) things will never change!!! pls lets do less blogging and typing ( me included) n lets seize this govt n whats rightly ours by the scruff of its neck. however, history and rational expectation suggests we will not do anything. i repeat, we will not do anything as we loyally and rightfully leave it to God. I say these things confidently becuz we’ve been leaving it to God since 1984 (@ least thats since my birth) n has anything really changed? sadly, our different cultures,languages, tribes n religion have all done nothing but hold us back#abegfreerickross. Finally, until we really understand the meaning of humanity n show the courage n determination to serve it as a nation( govt n electorate alike) we r all gonna be taken for a very long ride. #SMH

  24. ade

    December 6, 2012 at 1:35 am

    My suggestion is that the government gives 1 million Naira (lets assume Nigeria’s population to be about 300 million) to each nigerian……that still leaves plenty of money for the Nigerian government to embezzle….for people in poverty that money will go a long way though it may not mean much to pple that are used to living large.

    So if u want the money u come get ur picture taken and finger printed (both old and young) and give them the check and a national I.D. card as well (they can use that opportunity to get an idea of not only our population but also our identity)

  25. jyde

    December 10, 2012 at 1:55 am

    Which explanation?
    Na today?

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