Nigeria and Switzerland yesterday signed a
memorandum of understanding for the
rreturn of the $321m Abacha loot and also to
block accounts linked to the stolen funds.
This is the second batch of the stolen money
linked to the late military leader, Gen. Sani
Abacha. The country had in 2005 returned
$722m in the first batch.
The Swiss Ambassador to Nigeria, Eric
Mayoraz, hinted that both countries are now
in the process of returning $321m from the
second batch of the Abacha loot.
The MoU, he said, will help remove all the
legal bottlenecks in the process of the return
of the funds.
The envoy spoke during the signing of the
MoU on Mutual Legal Assistance on criminal
matters, between the Swiss government and
the Federal Government of Nigeria in Abuja.
Mayoraz noted that today’s event is
significant in the sense that it would eradicate
every bottleneck associated with the return of
stolen funds.
The ambassador, who stated that the MoU is
aimed at fostering understanding between the
two countries particularly as it relates to their
different legal systems, said: “We are now in
the process of returning $321m from the
second batch of the Abacha loot”, adding that
the country had in 2005 returned $722m in
the first batch.
“Our countries enjoy excellent relations and
we co-operate as partners in many fields, on
the return of looted assets, migration, human
rights, humanitarian assistance and many
others.
“Today, we decide to take this co-operation
forward to deepen it in the field of judicial
cooperation. By signing a Memorandum of
Understanding in this important area, our two
states further strengthen their ties of
friendship and cooperation”, he said.
While stating that fighting international
crime, in particular corruption, is an
important issue also for the Swiss government
as the MoU provides for a foundation to
improve cooperation, the envoy added that it
has the advantage of bringing direct contact
through central authorities as well.
He said the model request attached to the MoU
will help to improve the quality of MLA
requests.
“The text we will now sign marks the starting
point into a new era in our common fight
against international crime. People, goods and
money move around easily in today’s world.
That is generally a positive thing.
Unfortunately, this mobility is not limited to
honest people and clean money. Criminals
and proceeds of crime profit from it, as well.
States must thus cooperate in order to fight
transnational organized crime, corruption,
money laundering, the drug trade and so on”,
he said.
Minister of State for Foreign Affairs, Hajia
Abba Ibrahim, in her remark,revealed the
agreement would help block accounts of funds
linked to money laundering and other
transnational crimes.
The minister commended the Swiss
government in supporting Nigeria’s fight
against corruption, noting that repatriated
funds can help facilitate essential
development in Nigeria.
Ibrahim also assured the ambassador of the
commitment of the Buhari administration
towards the improvement of the living
standards of Nigerians and pledged the
nation’s commitment in deepening relations
between Nigeria and Switzerland.
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