Swiss must repay £244m of dictator’s dirty money

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Times
By Jon Ashworth



IT SOUNDS like the ultimate Nigerian scam letter — only this time, it is genuine.

Swiss bankers have been ordered to repay $458 million (£244 million) siphoned off by the late Nigerian dictator, Sani Abacha. Dismissing an appeal by General Abacha’s family, Switzerland’s supreme court sided with a government decree ordering the restitution of funds frozen in Swiss banks.

The figure adds to the $500 million already repatriated from Switzerland.

General Abacha died in 1998, aged 54. He is suspected of plundering more than $2 billion from the Nigerian central bank.

http://www.timesonline.co.uk/newspaper/0,,173-1487757,00.html

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1. BBC:

Nigeria to receive Abacha funds
By Imogen Foulkes
BBC News, Bern



Although the ruling by Switzerland's highest court opens the way for the bulk of the cash to be returned to Nigeria, a further $40m will remain frozen until the Abacha family can prove it was not obtained illegally.

Switzerland is currently seeking the extradition of Sani Abacha's son, Abba Abacha, from Germany on suspicion of money-laundering and fraud.

Lawyers for the Nigerian government believe Sani Abacha may have taken up to $2.2bn (£1.8bn) during his rule from 1993 until his death in 1998.

As well as Switzerland, they are looking for the money in Britain, Liechtenstein, Luxembourg and the United States.

http://news.bbc.co.uk/1/hi/world/africa/4271245.stm