Switzerland will return to Nigeria around $321 million in assets seized from the Abacha family via a deal signed with the World Bank on Monday, the Swiss government said.
The greed of former Nigerian President, Sani Abacha, who ruled for five years after a 1993 coup, shocked Nigerians. Transparency International, a corruption watchdog, accused Abacha of stealing up to $5 billion of public money during the five years he ran the oil-rich country, from 1993 until his death in 1998.
In 2014, Nigeria and the Abacha family reached an agreement for the West African country to get back the funds, which had been frozen, in return for dropping a complaint against the former military ruler’s son, Abba Abacha. The Abacha family have largely lain low since the short, flamboyant general died of a heart attack while cavorting with Indian prostitutes.