Switzerland to return $300m looted funds to Nigeria

The Minister of Foreign Affairs, Geoffrey Onyeama, has said Switzerland has promised to return another $300 million looted funds to Nigeria.
This was just as Onyeama said negotiations are ongoing with a number of countries on the modalities for the repatriation of some looted funds stashed abroad.
It could be recalled that Switzerland had earlier repatriated $700 million to Nigeria.
Onyeama disclosed these facts on Monday in an interview with journalists in Abuja.
He said the Federal Government was in discussion with the United Kingdom and the United States among other foreign governments on how all looted funds could be recovered.
He said: “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.
“The Swiss government has already repatriated over $700 million from (the late General 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 $300 million, 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.”
Onyeama said the goodwill generated by President Muhammadu Buhari’s visits to the US and other countries was helping in getting various countries to cooperate with Nigeria on the loot recovery drive.