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Switzerland to return $321 million stolen by Abacha

In a deal between Nigeria and Abba Abacha (the son of ex-ruler Sani Abacha) which was signed in 2014, Nigeria agreed to drop a complaint against Abacha and Nigeria in return will get $321 million refunded. The money which has long been frozen is part of the money that was stolen from the public funds by ex-ruler Sani Abacha and transferred to Switzerland.

In collaboration with World Bank, Switzerland has now agreed to transfer the money back to Nigeria. About a decade ago, Abba was charged by a Swiss court with fraud, forgery and money laundering.

SEE: More Nigeria news in Nigeria News Archive as well as in Nigeria News In Brief.