A Whopping Sum of 98Billion Naira to be Returned by Switzerland from Abacha Loot Money

December 05, 2017 No Comment
Just like you all, I wonder how much exactly Abacha during the five years he ruled Nigeria with an iron fist, from 1993 until his death in 1998, was able to do away with. Billions of naira looted by the former head of state have already been recovered, yet it appears there's a lot more hidden in Switzerland.
Though, we might not be able to give the total figure, but what's more important right now is the Switzerland government agreed to return the sum of roughly 98billion naira worth of assets to Nigeria through a deal signed with the World Bank on Monday.
If you recollect well, in 2014, an agreement was reached by the Nigerian government and Abacha's family to get back frozen funds which in return a complaint against the former military ruler’s son, Abba Abacha will be dropped.

After signing of the deal on Monday, Switzerland, Nigeria and the World Bank agreed the funds will be repatriated via a project supported and overseen by the World Bank, the Swiss government said.

“The project will strengthen social security for the poorest sections of the Nigerian population. The agreement also regulates the disbursement of restituted funds in tranches and sets out concrete measures to be taken in the event of misuse or corruption,” it added

While we rejoice over this improvement, my question is will this funds be used righteously or will it just be another waste of time.

Feel free to drop you thought on this update by joining the conversation on the comment section, share story and don't forget to subscribe for vip noticications.