Connect with us

Hi, what are you looking for?

TVCE Articles

Switzerland to return $300m Abacha loot to FG

President Muhammadu Buhari
TVCE [ABUJA] – The Minister of Foreign Affairs, Geoffrey Onyeama, has assured Nigerians that negotiations are ongoing with a number of countries on the modalities for the repatriation of some looted funds stashed abroad.Onyeama stated that the Federal Government had been in touch with Switzerland, which he said, had earlier repatriated $700m to Nigeria, noting that another $300m that was recovered would soon be repatriated to Nigeria.

Speaking in an interview with journalists in Abuja, Onyeama stated that the Federal Government was in discussion with the United Kingdom, the United States, among other foreign governments around the world, on how all looted funds could be recovered.

“We are in touch with Switzerland; they have recently recovered quite a significant amount of money and I met last week with Swiss representatives to work out the modality for the repatriation of the funds.

Advertisement
 “The Swiss government has already repatriated over $700m from (the late Gen. Sani) Abacha loot and that agreement has been reached on how the money would be applied.

“They have also now recovered in the same context another $300m of which there is ongoing discussion to have that repatriated as well. There are discussions with other countries; United Kingdom for instance, as you all know, is one of the countries we are discussing with on how to recover looted funds.

The minister explained that the goodwill generated by President Muhammadu Buhari’s visits to the US and other countries had helped in getting various nations to cooperate with Nigeria on the loot recovery drive.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Entertainment

Kanye West and Ty Dolla $ign soar to the top of this week’s Billboard 200 chart with their collaborative album, ‘Vultures Volume 1’. According...

Music

Crayon, the talented singer from Blowtime Entertainment and Mavin Records, continues his upward trajectory with the release of his latest single, ‘Fade Away’. Following...

Entertainment

Afrobeats sensation Asake stole the spotlight as the headlining act at the prestigious UNTOLD Music Festival in Dubai. Known as one of Europe’s largest...

Sports

  Damian Lillard, representing the Milwaukee Bucks, showcased his prowess on the court throughout the NBA All-Star Weekend, earning both the MVP title and...

Copyright © TVCCommuniation owner of TVC Entertainment