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Legalbrief   |   your legal news hub Wednesday 08 May 2024

Switzerland returns 'Abacha loot'

The Swiss Government last week announced that it will return $320m of the funds allegedly stolen by Nigeria's late military ruler Sani Abacha. The money was frozen in 2014 by a Swiss court after a legal procedure against his son, Abba Abacha. However, BBC News reports that it is a fraction of the billions of dollars allegedly stolen during his rule from 1993 to 1998. President Muhammadu Buhari made the recovery of stolen assets a major part of his 2015 election campaign and this will be the largest yet. The report notes that the Swiss Government has previously paid $700m of the 'Abacha loot' to the Nigerian Government over the past 10 years.