{"id":36808,"date":"2015-03-18T04:03:43","date_gmt":"2015-03-18T03:03:43","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=36808"},"modified":"2015-03-18T04:03:43","modified_gmt":"2015-03-18T03:03:43","slug":"abacha-loots-switzerland-returning-380-million-to-nigeria","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/abacha-loots-switzerland-returning-380-million-to-nigeria\/","title":{"rendered":"Abacha Loots: Switzerland Returning $380 Million To Nigeria"},"content":{"rendered":"

Switzerland will return to Nigeria some $380 million (360 million euros)<\/span>
linked to ex-dictator Sani Abacha, Geneva\u2019s public prosecutor said<\/span>
Tuesday, adding that it was closing a 16-year case on the funds.<\/span>

Abacha ruled oil-rich Nigeria with an iron fist from 1993 until he died in<\/span>
1998. The economy grew under his rule, though he was seen as extremely<\/span>
corrupt and faced criticism over his human rights abuses in the oil-rich<\/span>
nation.<\/span>

The decision to return the funds follows a July 2014 deal between Nigeria<\/span>
and the Abacha family.<\/span>

Under the agreement, the funds would be confiscated and returned to<\/span>
Nigeria, while Abuja would drop its case against the deceased dictator\u2019s<\/span>
son Abba Abacha.<\/span>

The $380 million had been placed in several accounts abroad that were<\/span>
controlled by the Abacha family, which is considered a criminal<\/span>
organisation, the Geneva prosecutors\u2019 office said in a statement.<\/span>

The money was seized in 2006 in Luxembourg, under orders from the Swiss<\/span>
authorities.<\/span>

The Abacha family had also placed some $500 million (530 million euros) in<\/span>
Swiss banks, though those funds have already been returned to Nigeria.<\/span>
The $380 million will be returned under the World Bank\u2019s supervision, said<\/span>
the prosecutor\u2019s office.<\/span>

The authorities have also decided to drop their case against Abba Abacha,<\/span>
which began in 1999.<\/span>

In 2012, the dictator\u2019s son was handed a one-year suspended prison<\/span>
sentence for participating in a criminal organisation.<\/span>
Switzerland\u2019s top court cancelled the sentence in May 2014, citing<\/span>
procedural reasons.<\/span>

The Geneva prosecutor\u2019s office on Tuesday said Abba Abacha has already<\/span>
been detained for 561 days from 2004 to 2006, without receiving<\/span>
compensation.<\/span>
The Abacha affair began in 1999, when Nigeria asked the Swiss judicial<\/span>
authorities to help it recover $2.2 billion ($2 billion euros) embezzled<\/span>
and siphoned off by Sani Abacha while he was in power.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Switzerland will return to Nigeria some $380 million (360 million euros)linked to ex-dictator Sani Abacha, Geneva\u2019s public prosecutor saidTuesday, adding that it was closing a 16-year case on the funds.Abacha…<\/p>\n","protected":false},"author":1,"featured_media":14926,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-36808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\nAbacha Loots: Switzerland Returning $380 Million To Nigeria - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/abacha-loots-switzerland-returning-380-million-to-nigeria\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abacha Loots: Switzerland Returning $380 Million To Nigeria - 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