Another $300m Abacha loot coming.


Foreign affairs minister, Geoffrey Onyeama Monday announced that the government of Switzerland has indicated readiness to repatriate to the Nigerian government another tranche of $300 million recovered from the family of former military ruler, Sani Abacha.
The money is part of the estimated $5 billion stolen and kept in foreign accounts by the late dictator.
Nigeria started the recovery of the looted money during the administration of former president Olusegun Obasanjo and about $1 billion has been recovered so far.
The administration of former President Goodluck Jonathan authorised the diversion of at least N61.4 billion ($300 million and £5.5 million) from funds recovered from Mr. Abacha, to the Office of the National Security Adviser, Sambo Dasuki, few weeks before the 2015 presidential election.
Ngozi Okonjo-Iweala, former finance minister said the money, which was not approved by the National Assembly, was meant for purchase of military equipment for the fight against Boko Haram.

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