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Major Nigerian Loot Destinations-UK, Switzerland says FG

The Minister of Foreign Affairs, Mr. Geoffrey Onyeama, has assured Nigerians that negotiations are ongoing with Switzerland representatives to work out modalities for bringing back loots in their custody.

Geoffrey Onyeama Assistant General Director of the World Intellectual Property Organization, participated in the inauguration of the new Costa Rican Academy of Intelectual Property, Thursday April 19th, 2012.

Speaking to newsmen shortly after the inauguration of 113 candidates at the 22nd Regular Course of the Service Academy in Abuja, He said apart from Switzerland having a bulk of the loot, Government is also speaking with the United Kingdom to return the public funds in their possession, as both countries are major loot destinations.
He said that the Visit of the President, Muhammadu Buhari to the United States helped pave way for the discussion on return of looted funds.



The Foreign Affairs Minister said: “We are in negotiation with countries for the repatriation of the stolen funds stashed in other countries. We are in touch with the government of Switzerland and we recently recovered quite some huge amount of money’’.

He noted that discussions were still going on with other countries like the United Kingdom .
On the subject of looted funds by the Abacha Administration, the foreign affairs minister said $700 has been repatriated and there were ongoing discussions for another $300 to be repatriated. All these he said will be channeled into programs that have been set for it.

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