We Have Returned N80 Billion Abacha Loot – Swiss Ambassador

Outgoing Ambassador of Switzerland to Nigeria, Mr Andreas Baum, has revealed that his country has returned over (500 million pounds) about N80 billion looted by the late Military President; Gen. Sani Abacha from the country’s treasury.

Baum, who this disclosed this to reporters in Abuja also said that his country had put some measures in place to safeguard its financial system from the transfer of stolen wealth.

He said Switzerland’s financial system had improved since the controversy surrounding the loot of the late Military Head of State, Gen. Sani Abacha.

According to him, “It is an area we have put a lot of work in. We realised that there was a problem; the measures we have taken will prevent the transfer of stolen wealth to our country.

“The Nigerian case is very important to us because the Abacha case helped us to improve our laws.

“We have put in place measures to ensure that the Swiss financial system is not abused with the transfer of such assets.

“We have returned around 500 million dollars (about N80 billion) of the Abacha loot to Nigeria. That was done during the time of my predecessor, but there is still one ongoing case involving the son of Abacha,’’ Baum said.