Nigeria, Switzerland complete agreement over $321m Abacha loot

Nigeria has signed a memorandum of understanding with Switzerland for the return of $321 million stashed by former military ruler, Sani Abacha.

Attorney-General of the Federation, Abubakar Malami sealed the agreement in Washington DC, US, on Monday afternoon at the headquarters of the World Bank Group.

Background:

Civil Society Organisations are expected to monitor the use of the funds when returned and were largely part of the negotiation process.

The money is expected to be expended on social protection programmes in Nigeria.

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