Again, Nigeria and Switzerland have signed a Memorandum of Understanding (MoU) on the repatriation of $321 million stashed in the European nation’s banks by the late Military dictator, Gen. Sani Abacha.
The agreement also seeks to block accounts linked to stolen funds.
In 2005, Switzerland had repatriated $722m to Nigeria. Eleven years after, the second batch of the stolen funds is due to reach Nigeria.
The Swiss ambassador to Nigeria, Eric Mayoraz stated that the pact is aimed at fostering understanding between the two countries as it relates to their different legal system said, “We are now in the process of repatriating $321m from the second batch of the Abacha loot.
“Our countries enjoy excellent relations and we cooperate as partners in many fields, particularly on the return of looted assets, migration, human rights, humanitarian assistance and many others.
“Today, we decide to take this cooperation forward to deepen it in the field of judicial cooperation. By signing a Memorandum of Understanding in this important area, our two states further strengthen their ties of friendship and cooperation.”