As it has come to be known, the Abacus loots has been in the news for 20 years.
Now, President Buhari’s led federal government has signed an agreement to clear the way for the return of the Abacha loot.
Switzerland said in December that it would return to Nigeria around $321 million, about 116 billion naira in assets seized from Abacha’s family through a deal signed with the World Bank.
These present government has Recovered 143.89 Billion Naira Through Whistle Blowing
Since taking office in 2015, President Buhari has sought help from several nations to recover money he said was taken from the public coffers of Nigeria.
Buhari’s spokesman said in an emailed statement that the memorandum of understanding ratified was between Nigeria, Switzerland and the International Development Association, (IDA), the World Bank’s fund for the world’s poorest countries.
“The return of illegal assets will not only boost the administration’s anti-corruption drive, but also provide additional funds for critical infrastructure,” said the spokesman in the statement.
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