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. Click to signup for FREE news updates, latest information and hottest gists everyday
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Please this money should be returned after the election so that Jonathan will not distribute it to woo votes,
ReplyDeleteHmm abacha had this amount, where is buhari own, where is Jonathan own
ReplyDeletePls Switzerland should keep the money, no need to return it cos Jonathan will re-steal it, at the end of the day, it hasn't come back to Nigeria and Nigerians
ReplyDeletePls they should endeavour to share this money equally to every citizen to improve our lives. Our population is less than the amount he stole, so am sure it will go round and we will still have some change left to take care of other needs.
ReplyDeleteif everyone is been checked I think Nigeria will be a better place for us
ReplyDeleteEven under OBJ, the ones returned were re-looted. GEJ's case is the worst, he will still "RE-THIEF" the money. Our next PRESIDENT knows what to do with the money. They should wait for him to have something (money) to start with. GEJ has emptied the treasury, even borrowed from world bank, so now, as it stand, GMB must have money to start his administration. O.J
ReplyDelete