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FG, Switzerland Sign Pact To Return $321m Looted Fund

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The Federal Government and the Swiss Government said yesterday that negotiation was ongoing in the process to repatriate $321 million looted funds starched away in Swiss Bank.
The Nigerian Minister of Foreign Affairs, Mr Geoffrey Onyeama disclosed while playing host to the Swiss Foreign Minister, Mr Didier Burkhalter in Abuja.
Onyeama said that there have to be an agreement on what the repatriated money will be used for as a pre-condition for the release.
He said that a Memorandum of Understanding (MoU) has been signed with the Swiss Government on cooperation in the area of human right migration agreement.
He said that the value of the money expected to be repatriated was $321 million and that there were modalities to be agreed on for the repatriation which involved monitoring mechanism by the World Bank.
“The modalities are basically legal framework for that, mutual legal assistance framework, that we are trying to put in place and there are pre-conditions that are also in place already and this required monitoring mechanism.
“So we have to agree before hand as a pre-condition on what the money would be used for.
“And the World Bank would be part of the monitoring process to ensure that the money is used for the benefit of Nigerian people,” he said.
He said the visit of the Swiss minister was significant in the sense that it helped with the commencement of repatriation of the looted fund adding that other looted fund could be discovered in future.
According to him, Switzerland is helping us in many different areas, with the Internally Displaced Persons (IDPs) in the Northern part of the country.
“They are making significant financial contribution there as well, and also in the area of trade
“They are about to open a new Consulate in Lagos and of course this would be a mechanism that can help to promote trade; Swiss investment in Nigeria which is what we are looking for,’’ he said.
Burkhalter while responding said that his country would try to write another chapter of the history of illicit asset recovery and restitutions from Switzerland to Nigeria.
“There is a history, 10 years ago, we repatriated $700 million Abacha looted fund, and now there is a possibility that in principle another $321 million will be returned soon.
“And for our government it is very important to act swiftly, to act in a transparent way and act for the good of the population of Nigeria.
“And the decision of the prosecutor of Geneva set a condition and this condition is monitoring mechanism by the World Bank,’’ he said.
According to him, if we sign a treaty very swift and possibility to support social projects in Nigeria, with the monitoring of the World Bank the money would be repatriated.
The envoy said that the time to repatriate the fund “depends on the capacity of our finding the solution to the conditions that are set.
“That means if we found a good solution with a good treaty between Nigeria and Switzerland.
“I mean monitoring mechanism on the projects that have to be supported, then it can be very swift because the decision as in principle of restituting the $321 million has already been taken,” he said.

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Fubara Seeks Full Resolution Of Bille Gas Leakage …Pledges Upgrade Of Community  Health Centre

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Rivers State Governor, Sir Siminalayi Fubara, has demanded quick and full resolution to the challenges arising from the gas leakage that occurred in Bille, Degema Local Government Area  of the State.

The governor has also pledged to upgrade the Primary Healthcare  Centre (PHC) in Bille with a view to addressing the  health challenges confronting  the community.

Fubara made the pledge on Wednesday at the Government House, Port Harcourt during an enlarged meeting of key stakeholders, comprising representatives of the Federal Government, the state government  and leaders of the community.

The meeting was held to review the situation in the community and explore available opportunities to save the people from the adverse impacts of environmental pollution.

Addressing the journalists at the end of the meeting, the governor acknowledged the determination of the Federal Government and its agencies to get to the root cause of the problem in Bille and  ensure that it is resolved permanently.

“The meeting is in respect of the situation in Bille. You’re aware that there is a case of gas leakage somewhere in Bille and the people have been making some requests that the government should come to their rescue to resolve the situation.

“As a state, we have gone to see the situation in the community, not alone but in conjunction with the industry operators and officials of  the Federal Ministry of Petroleum Resources. What we are doing today is an enlarged meeting where all the parties are sitting together to look at the cause of the issue and the most possible way to get the problem resolved,” he said.

Fubara described the outcome of the meeting as successful, stressing that more action would be taken in the next couple of weeks to ensure that the issue is fully resolved.

The Minister of State, Petroleum Resources (Gas), Hon Ekperikpe Ekpo, who led the Federal Government’s delegation to the meeting, expressed appreciation to the governor for his warm hospitality and efforts to address the challenge in Bille community.

Ekpo explained that contrary to the perception in certain quarters, the Federal Government has not been silent over the “gas seepage” but has been working tirelessly towards finding a sustainable solution.

The minister explained that as soon as the incident was reported, the Federal Government deployed experts to the area to understudy the cause of the problem.

According to him, it was difficult at first to understand the cause of the problem since there were no oil or gas infrastructure within the vicinity of the incident, hence the need to conduct a more detailed investigation.

“The investigation is still going but we decided to do a follow-up visit to the area to talk to the people of Bille Community that we need collaboration on their part so that we would be able to arrive at a lasting solution.

“The safety of the people is paramount. We can understand their anxiety,  the worry and the danger that this thing poses within the area, but the Federal Government is committed to  finding a lasting solution to the problem. The primary responsibility of government is to take care of the welfare and security of the people and that is exactly why we are here to go and see things for ourselves,” he said.

The Chief Executive Officer (CEO), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, also explained that as  the regulatory agency  at the centre of the issue, no effort will be spared in the task of resolving the issue.

Eyesan pledged that the NUPRC and operators in the industry were prepared to address the requests of the impacted  people in terms of the provision of potable water and fire trucks  to  the community.

The Public Relations Officer, Council of Chiefs, Bille Kingdom, Chief Rena Dappa, had during the meeting, presented the  challenges facing the community and pleaded for government’s support to save the lives and livelihoods of the people.

 

 

 

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Tinubu Unveils Training Programme For 5,000 Metre Installers

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President Bola Tinubu has announced the launch of a training programme for 5,000 young Nigerians as meter installers and technicians under the Presidential Metering Initiative.

The President stated that the scheme is aimed at creating jobs, closing the country’s metering gap and improving electricity supply.

The President disclosed this in a statement on his verified X handle yesterday, describing the initiative, tagged “The Power Force,” as part of his administration’s Renewed Hope Agenda to expand employment opportunities for young people.

According to Tinubu, the programme will equip participants with practical technical skills and connect them to employment opportunities in Nigeria’s power sector.

“Through the Presidential Metering Initiative (PMI), which I established to close Nigeria’s metering gap, end estimated billing, protect consumers and strengthen the electricity market, we are opening a new pathway for 5,000 young Nigerians to be trained as meter installers and technicians under The Power Force. This programme is about jobs, skills and dignity,” he said.

Tinubu said the training would be open to eligible Nigerians who have completed their secondary school education, with a dedicated quota reserved for members of the National Youth Service Corps.

He noted that expanding electricity metering was critical to improving service delivery and promoting transparency in the power sector.

“When homes and businesses are properly metered, Nigerians can pay for what they actually use. When electricity distribution companies collect revenues more transparently and fairly, they are better able to reduce losses, maintain infrastructure, expand connections and invest in better service.

“This is how we build a power sector that is fairer to consumers, stronger for investors and better able to deliver reliable electricity to the Nigerian people,” the President said.

Tinubu said he had directed the Presidential Metering Initiative to work with the Federal Ministry of Youth Development, the National Power Training Institute of Nigeria, and other relevant stakeholders to commence the programme within the next 30 days.

He encouraged qualified young Nigerians to apply, saying the initiative would provide them with marketable skills while supporting efforts to eliminate estimated billing and improve electricity access nationwide.

“I encourage eligible young Nigerians to apply. Join The Power Force. Learn a skill. Earn with dignity. Help us end estimated billing and be part of the work to light up Nigeria,” he added.

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Xenophobia: Third Evacuation Flight From S’Africa Arrives Today -FG

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The Federal Government has announced that the third evacuation flight for Nigerians voluntarily returning from South Africa will arrive Lagos today having departed Johannesburg at midnight yesterday with 271 returnees on board.

The Ministry of Foreign Affairs disclosed this in a statement issued yesterday by its spokesperson, Mr Kimiebi Imomotimi Ebienfa.

According to the ministry, the Air Peace-operated flight is expected to arrive at the Murtala Muhammed International Airport, Lagos, at about 5:30 a.m. on Friday, July 3, 2026.

It said the evacuation is part of the Federal Government’s ongoing efforts to facilitate the voluntary return of Nigerians from South Africa.

“The third evacuation flight operated by Air Peace will depart Johannesburg today by 12 midnight with 271 returnees. The estimated time of arrival in Lagos is 5:30 a.m. on Friday, July 3, 2026,” the statement read.

The latest batch of returnees follows earlier evacuation flights that brought hundreds of Nigerians back to the country under the Federal Government’s voluntary repatriation programme.

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