According to the Minister of Justice and Attorney General of the Federation (AGF), Abubakar Malami (SAN) there is an on-going negotiation between the Nigerian government and her Switzerland counterpart for the return of $321Million recovered from the late Abacha’s family.
Malami who made this announcement on Thursday at the federal capital territory also disclosed that the Muhammadu Buhari’s anti-corruption war recently recovered the sum $85m from the controversial Malabu Restrained Funds from United Kingdom (UK).
Speaking through his spokesman, Salihu Isah, the minister of Justice in a statement released on Thursday, at a Pre-Global Forum on Asset Recovery (GFAR) Consultative meeting with the theme: “Building an ending framework for asset recovery in Nigeria.”
Malami in his statement said once the negotiation with the Switzerland is concluded, a Memorandum of Understanding will be signed by countries at the Global Forum on Assets Recovery meeting which will be held between December 4 and 6 in Washington DC.
Malami who assured Nigerians that after both parties’ endorsement of the MOU, the repatriation of the funds would follow within weeks stressed the need for the international community to ensure the implementation of measures considered and adopted at the London Anti-Corruption Summit in May, 2016.
The minister was quoted saying “It is widely acknowledged that corruption undermines economic development, political stability, rule of law, social development, disrupts social order and destroys public trust in the governance system. It is an established fact that corruption which is linked to organized crime, terrorism and insecurity is one of the reasons for underdevelopment. Resources and funds meant for development of infrastructure in education, health and security sectors, among others have been stolen and hidden in different parts of the world,”
The British Ambassador to Nigeria, Paul Arkwright who was represented by Senior Police Advisor, Michael H. Bonner and Swiss Ambassador, Eric Mayoraz commended the Nigerian government for collaborating with Civil Society Organizations to fight corruption and in tackling illicit financial flows.
