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Swiss govt has returned $1bn Abacha Loot since 1999 — Magu

Acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu said Swiss government has returned about $1 billion Abacha Loot to Nigeria since 1999.

Magu made the disclosure on Thursday while speaking at the International Association of Anti-Corruption Authorities (IAACA) in Vienna, Austria.

EFCC’s acting head of media and publicity,Tony Orilade quoted Magu as saying the anti-graft commission also recovered money from other corrupt public officials, as he called for more international collaboration on repatriation of stolen wealth.

“Successes recorded in recovery of stolen assets have been achieved through Memoranda of Understanding, (MoU) signed between Nigeria and several countries, including Switzerland, the United Kingdom (UK), the United Arab Emirates (UAE), and the United States (U.S.) in line with Article 57 paragraph 5 of the United Nations Convention Against Corruption, UNCAC,” the statement read.

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