Abubakar Malami, minister of justice and attorney general of the federation, AGF, Thursday, said that negotiation has been concluded with Switzerland to return $321 million recovered from the late Abacha’s family.
The AGF disclosed these in Abuja at a Pre-Global Forum on Asset Recovery, GFAR Consultative meeting.
He said that with the conclusion of the negotiation, the Memorandum of Understanding, MoU, will be signed by parties at the Global Forum on Assets Recovery meeting to be held on between December 4 and 6 in Washington.
He added that after parties’ endorsement of the MoU, the repatriation of the funds would follow within weeks as agreed by the parties.
“It is widely acknowledged that corruption undermines economic development, political stability, rule of law, social development, disrupts social order and destroys public trust in the governance system. It is an established fact that corruption which is linked to organised crime, terrorism and insecurity is one of the reasons for underdevelopment.
“Resources and funds meant for development of infrastructure in education, health and security sectors, among others have been stolen and hidden in different parts of the world.”
The British Ambassador to Nigeria, Paul Arkwright (represented by Senior Police Advisor, Michael H. Bonner) and Swiss Ambassador, Eric Mayoraz commended the Nigerian government for collaborating with Civil Society Organisations to fight corruption and in tackling illicit financial flows.
He said they pledged the support and cooperation of their home countries in repatriating stolen funds stashed away in banks at their countries back to Nigeria in due course.
