Vice President Osinbajo receives Swiss delegation; $321million Abacha loot to be returned

Vice President, Professor Yemi Osinbajo Tuesday received a Swiss delegation led by the country’s Federal Councillor and Head of its Foreign Affairs Department, Mr. Didier Burkhalter and the Swiss Ambassador to Nigeria, Mr. Eric Mayoruz.
The Nigerian and Swiss teams discussed the offer of the Swiss government to return $321 Million stolen funds from Nigeria under the late Gen. Sanni Abacha government.
Prof. Osinbajo, on his face book page said “We are currently developing a framework that will aid the repatriation of stolen assets stashed abroad.
“The framework once finalized, will be available to the public, and it will cover the whole spectrum, from the source of the stolen asset, to how it would be managed once recovered.”
The Attorney-General of the Federation and Justice Minister, Mr. Abubakar Malami, SAN, signed an agreement – “Letter of Intent” between the Swiss government and the Nigerian government on the restitution of illegally-acquired assets forfeited in Switzerland. Mr. Burkhalter signed the Agreement on behalf of the Swiss government.
Under the agreement the Swiss government will award to Nigeria $321 Million of funds illicitly acquired by the Abacha family, initially deposited in Luxembourg and confiscated by the Judiciary of the Republic and Canton of Geneva pursuant to a Forfeiture order dated 11th December 2014.