Abacha’s Loot: FG Denies Payment of $79million Commission 

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(Last Updated On: 2016-12-12)

Nahimat Adekoga


The Federal Government has denied claims that it signed $79 million agreement with the Switzerland government, as part of condition for the repatriation of $321 million deposited in one of the country’s financial institution by Nigeria late former military head of state, Gen. Sani Abacha.

The Federal Government response came barely 24 hours after the citizens were flourished with reports that $79 million agreement had been reached between both governments to fast track the release of funds deposited in the country by the former head of state.

Reacting over the allegation, Minister of Finance, Kemi Adeosun, urged Nigerian not to believe the claim, saying the amount payable to Nigeria from Switzerland is $321 million.

She stated that there is no deduction of $79 million as claimed, assuring the citizens that recovery of the loot would be made in full and that there is neither commitment nor requirement to pay any commission to the Swiss government.

“The Federal Government is committed to securing the return of all looted funds in their entirety and has never entered into any sharing arrangement as suggested in the report.”

She noted that the fund is being returned to Nigeria for projects that are subject to verification by the World Bank.

“The recovery process is ongoing with the Swiss authorities and the World Bank has agreed to undertake the required verification.”

Adeosun in a statement by her Special Assistance on Media, Festus Akanbi, stressed that the apex government would intensify efforts to secure all monies due to Nigeria including an additional $400 million of Abacha loot held up in United State (US) Courts.

She disclosed that the Attorney General and minister of justice, Abubakar Malami and her officer were engaging their US counterparts to ensure quick recovery of the funds.

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