Switzerland has decried what it termed lack of transparency in the
Nigerian Government’s handling of repatriated $1bn funds looted by late
Head of State, Sani Abacha.
This was lamented by the country’s Ambassador to Nigeria, Eric Mayoraz,
yesterday in Abuja at a forum on Asset Recovery hosted by the Embassy to
discuss issues surrounding the late Abacha’s recovered assets.
Mayoraz said the Swiss Government insisted on the involvement of the World
Bank in the management of the $322.5 million to ensure that the money was
spent to alleviate the sufferings of the poor.
He said: “$752 million was returned in 2005 and we discovered more and
more in other banks and that involved the $322.5 million that was
repatriated earlier this year.
“Unfortunately, some of the assets that were returned, there was not so
much transparency in it.
“So, we have to introduce the World Bank to get involved in this so that
this particular one can be used by the Nigerian Government with the
monitoring of the World Bank.”