FG moves to retrieve $300m loot from Swiss govt.

The Federal Government has set in motion activities to repatriate about $300 million, being money stolen from the country which has been recovered by the government of Switzerland.

This is besides over $700 million from Abacha loot which has already been repatriated.

The Minister of Foreign Affairs, Geoffrey Onyeama, who stated this on Monday, said negotiations are ongoing with a number of countries on modalities for the repatriation of some of the funds that have been stashed abroad.

Specifically, the minister said the Federal Government is in touch with Switzerland, the United Kingdom (UK), the United States (US), among other foreign governments around the world, on how all looted funds could be recovered.

“We’re in touch with Switzerland; they have recently recovered quite significant amount of money and I met last week with Swiss representatives to work out the modality for the repatriation of this fund.”

The Swiss government, he further disclosed, has already repatriated over $700 million from 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 (UK), for instance, as you all know where there are ongoing discussions there.

“You know that one of the first countries Mr President visited earlier on after his election was United States where he had discussion. So there are ongoing discussions with a number of governments around the world and I will like to take the opportunity again to say that the good will generated by Mr President has helped enormously in this whole process and a lot of countries are extremely cooperative to this end,” he said.

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