Nigeria Kick-Starts Repatriation Of Stolen Funds

Nigeria is set to partner foreign consultants, comprising legal practitioners and other experts in Switzerland on a voluntary offshore asset repatriation scheme.
the Minister of Justice, Mr Abubakar Malami, disclosed this to newsmen in Bern, Switzerland on the sideline of a meeting held at the Nigerian Embassy.
Malami said that under the scheme, experts would collaborate with the Swiss Government to target funds that have not been identified in ongoing investigations.
It would be recalled that since 2015, $322 million looted funds have been repatriated from Switzerland.
According to Malami, Switzerland has been chosen as the pilot nation for the scheme, given the existing partnership on asset repatriation between both countries.
“The success of the scheme in Switzerland will determine the inclusion of other nations,’’ the minister said.
He said Nigeria government was also involved in other international repatriation processes, noting the recent tripartite meeting held in the UK between Nigeria, US and the State of Jersey on asset recovery.
Speaking on the utilisation of the repatriated funds, Malami said that the monies were being channelled into various projects, closely monitored by the World Bank and the Swiss Civil Society Organisations.