Adeosun denies $79m Switzerland 'commission' for Abacha loot

The Presidency has debunked claims by Chairman of the Civil Society Network Against Corruption, Mr. Olanrewaju Suraj that FG would pay Switzerland a $79m commission in order to receive a certain $400m looted by ex-Head of State, Gen. Sani Abacha.

In a statement released yesterday, Finance Minister Kemi Adeosun 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.

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.

"The Federal Government is committed to securing the return of all looted funds in their entirety and has never entered into any sharing arrangement as suggested in the report."

Intense efforts continue to secure all monies due to Nigeria including an additional $400 million of Abacha loot held up in US Courts on which the Attorney General of the Federation and the Ministry of Finance are engaging with their US counterparts to secure expeditiously.