Switzerland has given Nigeria conditions for the repatriation of the $321 million stolen fund in Swiss accounts.
Swiss Foreign Minister Mr Didier Burkhalter said a treaty on use of the fund must be spelt out before the money would be released.
Besides, the World Bank must be involved to monitor how the money would be spent.
Burkhalter, who spoke in Abuja after meeting his Nigerian counterpart, Mr. Geoferry Onyeama, said if both countries signed a treaty to support social projects in Nigeria, with the World Bankmonitoring, the money would be restituted.
The minister assured Nigeria that his country would write another chapter of the history of illicit asset recovery and restitutions from Swizerland to Nigeria
He said: “Ten years ago, we repatriated the Abacha loot of $700 million and now there is a possibility and the decision as in principle to restitute another $321 million.
“And for the Swiss government it is important to act swiftly, to act in a transparent way and act for the good of Nigeria.
“And the decision of the prosecutor of Geneva set a condition and this condition is a monitoring mechanism by the World Bank.
The envoy said the time to repatriate the fund “depends on the capacity of our finding the solution to the conditions that are set.
“I mean monitoring mechanism on the projects that have to be supported, then it can be very swift because the decision as in principle of restituting the $321 million has been taken,” he said
Onyeama announced that both countries have commenced the process to repatriate the $321 million.
The minister said there has to be an agreement on what the money would be used for.
“So we have to agree before hand as a pre-condition on what the money would be used for.
“And the World Bank would be part of the monitoring process to ensure that the money is used for the benefit of Nigerians,” he said.
He said the visit of the Swiss minister helped with the commencement of repatriation of the looted fund.
According to him Switzerland is helping in many areas, with the internally displaced persons in the North.
“They are making significant financial contribution there as well, and in trade.
“They are about to open a new consulate in Lagos and this would be a mechanism that helps trade; Swiss investment in Nigeria, which is what we are looking for.” Click to signup for FREE news updates, latest information and hottest gists everyday
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I no go hear all these hausa gongs again here because we are discussing the destruction their brother did to us. Over 1 billion dollars as of 1998, imagine the trillions of dollars it will be now. If it is for them to shout PDP destruction, all of them will learn grammar. By the way, Buhari did not visit Swiss for this repatriation to be decided and made possible, all the countries where he went on tourism, not a single kobo has come from there, yet APC sycophants are drumming and celebrating his adventurous tourism and official corruption through millions of esta code for him and his boys or entourage including his son, per trip!
ReplyDeleteI will advice the money should be released to Nigeria Government in batches so that world bank can actually monitor how the cash is been spent on various project.
ReplyDeleteWhy did the same World Bank not monitor when it was stolen???? The receiving country did not sanction the bank in question. The money did not lie there idle for these years, they obviously had pit it in trade. If they and the so called World Bank were dealing in true equity, why have they in the last 15 or so years not used the funds in trade or projects to benefit Nigeria???? Or, is this not possible? Our leaders are corrupt yes, but corruption os not an African or Nigerian concept.
DeleteFine one, please let all fund repatriation to Nigeria from any country follow this process as we are not confident about what our leaders do with such fund, instead they re-loot them. Very bad
ReplyDeleteIt is quite unfortunate that we Nigerians find ourselves in this kind of mess where our leaders bent on hauling our physical cash not even investment to foreign nations, and then, as now the foreigners are to determine how we're gonna live in our room, and the kind of food we gonna eat what a big shame. Anyway, to God be the glory for the Swiss government who wants to favor us by bringing this funds back to the rightful owner(NIGERIA); but there's one thing I want to remind the Apc led govt., and that's where is late President Abacha and cos who did this absurdity transactions? , in the land of the dead hemmmmmmm!!!!!!!! Wahala deyooooo!!!,what shall it profit a man if he gains the whole world and loses his soul in hell that burns with brim stone and fire," God forbid Apc will never keep Nigeria as one chance passenger"~ Gov. Fayose of Ekiti-State kept saying this, they'll never succeed in doing so,since this new administration assumed office and put EFCC behind past leader collecting stolen money both home and abroad from them, tell what exactly have they been investing this huge restored looted fund in, abi na only collection!,collection!!and collection!!!, keeping immediate past leader under dueress and high blood pressure, the other day I learnt that innocent ex-leader A.A Madueke was summoned over irrelevant financial issues; but I remember when Former President Jonathan was in power despite all the attacks from insurgence in the NorthEast and even from the four parts of this nation was against his administration, he maintained and stood his ground building roads and infrastructures even the ones blown up by Bokoharam. But this one is only long story, take a panoramic view of Enugu/Onitsha Expressway and etc dilapidated and this is one of the international ways we have in this country, Apc there's Godoooooo!!!!!!!!... Leadership with resentment is the worst thing that can happen to a nation.....I pray that the current world event open the eyes of our leaders to see and escape from this impending doom facing them this time around....Nigeria must survive!!! If the Swiss govt. Knows how and what to do to remedy this situation in terms of investing this money right here in Nigeria am fully in support of them because am see this present administration as the most corrupt one; but claiming they're fighting corruption
ReplyDeleteSwiss Bank, I beg to ask, is this money coming along with the accrued interest or not? World Bank are you not in the know of this fabulous amount in Swiss Bank. Swiss Bank who are you to tell us how to spend our money stolen to your bank. Swiss Bank you are as a thief as the one who starched it in your bank. Nigerians why are we doing these to ourselves? Is Abacha eating the loot now? But is paying with his soul & spirit. There is no forgiveness in the grave. Abacha's wife, children, friends, well wishers, extended families & friends knew of all and never corrected him. The wife can even brag that even if all the loot are recovered she & family can never be as poor as Dangote, what a life.
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