Nigeria: Abacha Loot – Govt Denies U.S.$79 Million Payment to Swiss Govt

Daily Trust Abuja Hamisu Muhammad
Displayed with permission from allAfrica.com

The Federal Government has denied plans to pay $79 million as commission to the Swiss government as part of conditions for repatriation of the Abacha loot.

The Minister of Finance, Mrs Kemi Adeosun who made the clarification over a newspaper report said that the amount payable to Nigeria from Switzerland is $321 million, and is being returned to Nigeria for projects which are subject to verification by the World Bank. »The recovery process is ongoing with the Swiss authorities and the World Bank has agreed to undertake the required verification. »

A statement from the Media Adviser to Minister of Finance, Festus Akanbi stated that there is no deduction of $79 million as suggested in the report which is both « misleading and inaccurate ». She assured that recovery will be made in full and that there is no commitment or requirement to pay any commission.

« The Federal Government is committed to securing the return of all looted funds in their entirety and has never entered into any sharing arrangement as suggested in the report, » the statement said.

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