World Bank delaying return of $321m Abacha loot — Switzerland
The repatriation of the $321m looted by late Gen. Sani Abacha may not be done anytime soon as the Swiss government says the World Bank has to finalise the projects to be executed with the money by the Federal Government.
The Swiss government explained that a bilateral agreement for the restitution of the money would then be signed afterwards, which would form the basis for the transfer of the money.
The Deputy Head of Mission, Swiss embassy in Nigeria, Daniel Cavegn, said this in an email to inquiries from our correspondent about the time frame for the repatriation of the money.
Cavegn stated that the Swiss government was ready to start the transfer of the fund once all the necessary World Bank protocol and agreements had been taken care of.
He said, “Once the monitoring of the World Bank for the projects chosen by the Federal Government is finalised, we will proceed to a bilateral agreement for the restitution, which is the legal basis for the transfer of the money.