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    Friday, October 27, 2017

    Switzerland to return $321m Abacha loot - Minister of Justice, Abubakar Malami says

    The Attorney General of Federation and Minister of Justice, Abubakar Malami (SAN) yesterday said that negotiation with Switzerland on the return of $321 million recovered from the late Abacha family had been concluded.

    This was just as he further revealed that Nigeria had recently recovered the sum of $85 million from the controversial Malabu Restrained Funds from the United Kingdom.  The AGF made the revelation in his opening remarks at the Pre-Global Forum on Asset Recovery (GFAR) Consultative meeting with the theme: Building an Ending Framework for Asset Recovery in Nigeria held in Abuja.

    Malami stressed further that with the conclusion of negotiation, the Memorandum of Understanding (MoU) will be signed by parties at the Global Forum on Assets Recovery meeting coming up between December 4th and 6th, 2017 in Washington DC and that the repatriation would follow within weeks as agreed by the parties.

    He affirmed the need for the international community to ensure the implementation of the measures considered and adopted at the London Anti-Corruption Summit in May 2016.

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