Abacha loot: Nigerian government denies plans to pay Switzerland $79m commission

The Federal Government yesterday debunked reports that it has agreed to pay the government of Switzerland $79 million in order to release the $321 million stashed in the country by late Head of State, Gen. Sani Abacha.

The Chairman of the Civil Society Network Against Corruption, Olanrewaju Suraj, had last week disclosed during a seminar to commemorate the 2016 International Anti-Corruption Day in Abuja that the federal government had agreed to pay the Swiss $79 million out of the Abacha loot.

However, Mr. Festus Akanbi, Special Adviser on Media to the Minister of Finance, Kemi Adeosun, in a statement, pointed out that the negotiations with the Swiss officials on the repatriation of the loot had no provision for commission, whatsoever.

According to him, “The attention of the Minister of Finance, Mrs Kemi Adeosun, has been drawn to a misleading report, which erroneously claimed that the Federal Government has agreed to pay a $79 million commission to the Swiss government, as part of conditions for repatriation of the Abacha loot.

“The Minister of Finance clarified that the amount payable to Nigeria from Switzerland is $321 million, and is being returned to Nigeria for projects which are subject to verification by the World Bank.

“The recovery process is ongoing with the Swiss authorities and the World Bank has agreed to undertake the required verification.

“She stated that there is no deduction of $79 million as suggested in the report which is both ‘misleading and inaccurate’.


“She assured that recovery will be made in full and that there is no commitment nor requirement to pay any commission.”