The Swiss Ambassador to Nigeria, Dr. Hans-Rudolf Hodel, announced the figure at a media briefing in Abuja on Tuesday.
Hodel also hinted that his country had begun proceedings in Geneva against one of Abacha’s sons -Abba, for allegedly sponsoring a criminal organization but did not give further details.
The envoy explained also that in the last 15 years, Switzerland has returned about $1.7 billion of illicit money to their countries of origin including Angola, Peru, Nigeria and the Philippines.
The briefing was in respect of an international seminar by the Switzerland embassy and the Inter-Governmental Action Group against Money Laundering in West Africa, GIABA, and Combating the Financing of Terrorism.
The envoy however used the forum to deny the existence of fresh $1 billion being alluded to by former President Olusegun Obasanjo as still being held by the Swiss banks.
Hodel stated that the Abacha’s case in particular compelled his country to adopt more stringent measures to combat illicit dealings in its financial sector.
He said: “Swiss banking secrecy does not give any protection against criminal prosecution, neither within Switzerland nor regarding international legal assistance. Additional measures prevent assets from being withdrawn before foreign authorities and law enforcement agencies submit a formal request for legal assistance or information for investigative purposes.”
He expressed the hope that the repatriated funds would not be embezzled by corrupt officials of the benefitting nations.
He also spoke on the bilateral relations between Nigeria and Switzerland noting that $225 million was invested by Swiss businesses in the Nigerian economy in 2010 up from $201 million in 2009.
It will be recalled that a Geneva court had two months ago confirmed the sentence handed down on the son of the former Nigerian dictator Sani Abacha for belonging to a criminal organisation linked to looted assets charges.
Source: Vanguard
Hmmnnnn. God help my nation Nigeria
ReplyDeleteonly??? That could be just 6months interest on a single acount of which this guy has several.
ReplyDeleteBear in mind the money has been lying there for almost 2 decades so this is like 1/1000000th...sorry we might look stupid but we can count!!!
Abi ooo,even sef, after returning the money,another politician will syphone it again to another account,in the next 2 weeks,we won't be able to account for it again, so no need!!!! SMH
DeleteANOTHER TAKE HOME PACKAGE FOR GEJ & CO LTD.THE FUNNY THING IS THAT THE BIGGEST SYCOPHANT HERE IS OUR ALMIGHTY MADAM OKONJO WHO SEES AND TRIES SO MUCH TO HIDE.GOD HELP US
ReplyDeleteThat bitch's so ugly one can't even contemplate raping her before beheading her when d revolution starts.
DeleteOne person just sidon wetin him brain reason na 2 dey thief thief meat from our pot of soup, kai aboki na! God answered our frayers on time sha, if not we for don begin dey eat our eba with pure water but God pass them.
ReplyDeleteNow Goodluck should think of building toilets and palmy joints for Sambo and David Mark 'cause am sure they don't have them...sorry the one they have is not sophisticated enough. Julius Begger, go and beg for this contract...Dan shasha pkarawos in the name of folitical leaders. God will answer us again like He did in 1998...but not with the ultimate full stop though.
Kai!aboki I don vex fa!
DeleteKai!aboki I don vex fa!
Deletena wa oo... abacha just loot our money go another man land...thanks to the swiss government..if na our obodo naija we for no hear about am
ReplyDeleteHe shd've kuku hung around just 1 more day to loot Obasanjo go hell...oh dang!!
Deletena wa oo na so late abacha loot that kind huge money go another man land... if na for our obodo nigeria we for no even hear about am not to talk of knowing the amount, thanks to the swiss government sha.... make dem secret dey leak so we go know aw much evil dem our leaders don do....
ReplyDeleteNa wa o see money 700 million dollars chei!! At least the money is comin back to naija abeg goodluck use that money do beta tin ooooo.. No be small money b dis o chei!! Our leaders are irresponsible no be today e don tey
ReplyDeleteLinda the mobile site is big mess now and it isn't opening well. Pls can u fix this? Thank u!
ReplyDeleteWhat annoys me the most is that this same act done by Abacha 15 years ago is still happening presently even on a larger scale by our present Leaders. $700 million is presently the equivalent of N105 billion, you would be surprised that this is money stolen 15 years ago, just imagine the development that could have brought to the country. Smh! This country needs a complete political overhaul!
ReplyDeleteIf Abacha could steal that much back then, God knows how much our present Leaders are stealing presently. God Help Nigeria!!
D swiss govt won't mind repatriating $700 million now cos d present crop of 'lootliticians' have deposited hundred times that amount in their country.
DeleteWot! Wat dat He**, (laffin tins on my mind),i knew dat dis pple has return d money since,but where is it, *eyes rolling*
ReplyDeleteWanna make som real dough dis Decemeber-kindly click on d link below
http://earnite.com/ref.php?page=act/ref&invcod=2372
Speechless...
ReplyDeleteWats d need of returning d money wen į̸̸̨ƭ will b. re-looted again. SMH . God help dis country Α̲̅Ω̴̩̩̩̥d̶̲̥̅̊ our terrible leaders.
ReplyDeleteHmmm...it is well!
ReplyDeleteLike the money is in safe hands. They've done justice to it in govt house
ReplyDeleteWhen he gains τ̣̣ђё world and losses his F**king life...
ReplyDeleteFor another one to steal
ReplyDeleteAbacha's loot returned after his death,I guess we'll have to wait till d odas die to discover their own loots. Till then,they're presumed innocent by EFCC.
ReplyDelete~BONARIO~says so via NOKIA3310
Abi now,shei na cos Abacha die everyone is acting like he is d biggest thief naija has witnessed!
DeleteBigger criminals dey all are ,our past govnors and presidents...if not shei we would have seen d monies returned!
Oh plllsss...spare mi dis BS talk dey should have left d money for his family at least den we know twas given to a widow and her children!rubbish!
Thats where Nigeria is getting the money to build stupid hhouses and shit
ReplyDeletethats where they are getting the money to build houses and from
ReplyDeleteOle buruku
ReplyDeletethats where they are getting the money to build houses and from
ReplyDeleteYou are a fool for believing this story! They feed you with their silly corrupt lies and people believe them! Abacha was by farrr a better leader than this stupid money hungry lunatics we have as leaders now! Its been over 15yrs since his death, allow the man to rest in peace.
ReplyDeleteAnd of course, the loot was shared among the current political thieves!
ReplyDeleteThe loot has been returned, to who? & am sure it has already been Re-looted as we read & comment, + we(9ja) rankin 38th ind world most currupt country....God heal our land
ReplyDeleteAnd....whoosh*dissappear*...dats d end of d money trail...free money for those fckdup politicians. *pissd*
ReplyDeleteI know its been awhile I have been here not that I am supporting military rule but during his regime, dollar stood rock solid @ 80 naira and fuel was 11 naira per litre and there was no. Boko haram or all that crap, now how much is fuel? The democracy we hoped for is full of perverted corruption, what's the president doing with a fleet of 10 jets? Fellow brothers vote Buhari 2015 and let there be some sanity in government and I am from the south-east, leave sentiments aside,One Nigeria baby, we all use one passport.
ReplyDeleteYes! I voted for him the last time..
DeleteYET IT DISAPPEARED INTO THIN AIR AS USUAL....
ReplyDeleteToo bad Abacha couldn't carry all that cash to wherever he went after he died. Too bad he was wrapped and buried naked. Too bad also that this money is gonna go into someone else's pocket. Too bad.
ReplyDelete700$million ???. That's enough to give all nigerians steady electricty. Am sure the money has disappeared. #abacha is handsome tho.
ReplyDeleteVery handsome...
DeleteMaybe it was Obasanjo's orangutang-like features that irritated him
Deleteok naa as if they are now going to invest d money into somthing meaninful thiefs without guns.
ReplyDeleteNa wa o.
ReplyDeleteLife is all abt bad politics I fink they shuld really look into dis matter if nt fins are going 2 get worse dan it already is nigeria budget 4 2013 shld really be looked into 4 dis same issue
ReplyDeleteU caught d thief and return d money back to other thieves... Well, a big thank u to d swiss govt. We thnk God 4 dis... Little is okay, at all-at all na im bad...
ReplyDeleteNa wa for dis country sef!everytyme we hear dat swiss govt are releasin billions of dollars stolen by d late dictator,Abacha.one questn i want to ask is dat, where are all these money goin into?
ReplyDeletethe money was returned to Nigeria, Yes! but re-stolen by the Nigerian Government. so the money is as good as not returned. case closed, matter dismissed!
ReplyDeleteIt's gonna go to certain people's pockets in Nigeria.
ReplyDeleteWhere is the money and what have our government used the money for?
ReplyDeleteWhat of the loots of IBB Buhari and co is it when they die ? A commitee should be formed based on utilization of this money because Oga jona will termed it money subsidy *winks*
ReplyDeleteMy friend,hard as u may try to tarnish Buhari's image u shall keep failing.The truth shall set u free from ur anonymous bondage.Ibb on the other hand,now that's a different story altogether.
DeleteGod se as nigeria bastards people use to killing there mothersland god help us out of this kind of situations poor are die hunger when some leaders keeping on battle country monies why ?
ReplyDeleteSo the money was recovered and our corrupt officials stole it again.
ReplyDeleteGod of mercy, see money.. Even if it's just $10million, my life will not remain the same..
ReplyDeleteBlood of God!!!! :-0
ReplyDeleteAll these money being returned to Nigeria sef both foreign & local, where e dey enter. $700m yet we'll still go borrowing, why? Nigeria shd be self-sustaining by now. Will things ever get better???
ReplyDeleteBless u Victor!....My point exctly, where is the money?...By God's grace E go better.
DeleteSwiss govt is announcing how much they have disburse to Nigeria so far, but Federal govt will not be the first to announce and tell how to they want to prudently spend it. Lack of accountability and transparency. Want a flat belly, burn fat from part or entire body, eat right for healthy sake and maintaining your body shape with fitness.Visit this website to learn more http://bit.ly/fitnessandweightlossreport
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteCorruption in d highest order..Only God go judge
ReplyDeleteMr. Hodel, Whatever has been returned has been re-looted I can assure you sir, probably Seychelles or the UAE has it now.
ReplyDeleteSir very soon, you'll hear of a revolution, we'll kill them one after the other, we'll burn their houses and we'll retake our pride-land from the poaching hyenas.
I NEED CHANGE!
Sincerely speaking, pls wen ua mobilizing 4 dat let me know... I'll be glad to answer dat call. Just like in Palestine, dat d only option left OR we just divide.... Maybe dis country is too big 4 us to say we want to legally curb corruption #Angry Nigerian#
Deleteso where is the damn money?
ReplyDeletethis money shd be used to repair our roads from Lagos-Ibadan-Ore-East and all d Northern states, build massive bridges and what u have.
Is this the money Jonathan is banking on using to construct the new banquet hall for aso rock, build a new house for Sambo and David mark and all d excecutivelooters and sinators? whatever happened to their old abode which i know wl look like a palace already, glorified morons!
Jonathan is clueless i swear *moving away in anger*
“We need to find the courage to say NO to the things and people that are not serving us if we want to rediscover ourselves and live our lives with authenticity” - Barbara de Angelis
ReplyDeletei got this from stephanie's blog and ts so true
Stephanie must be a lazy cow cos she ain't uploaded shit on her blog so i'm guessing u're d lazy Stephanie
Deletethe money would still be shared amongst themselves.....so no difference...habana
ReplyDeleteWho did dey give the money?!
ReplyDeleteThat money don loss!!
Who among them is free of stealing nigeria money,should first cast a stone on him.My Blog-Maryjanedavidson.blogspot.com
ReplyDeleteit does not make any difference whether the money is returned or not, we all know it will go!
ReplyDeleteToday's political thieves should be the focus. Returning the funds to whom? & why exactly? Thieves. Go to the western world & find ways to create jobs & get people off the streets. Robbery, kidnapping etc. personal possession for yourselves/vanity at what cost?
ReplyDeleteMtcheeeeee....dem don announce the amount like say e mean anything to the masses, money wey go enter voice mail just now now. Abegi make we hear word jare. Heartless leaders
ReplyDeleteAbacha was actually a handsome man.
ReplyDeleteFine boy no pimples,face full of dimples(and tribal marks),guys called him competition n girls called him satisfaction
DeleteLinda, abegi you post people comment o. I tire to wait.
ReplyDeleteLIB readers comment entertains. So Lin Lin, roll them out now!
Today's political thieves should be the focus. Returning the funds to whom? & why exactly? Thieves. Go to the western world & find ways to create jobs & get people off the streets. Robbery, kidnapping etc. personal possession for yourselves/vanity at what cost?
ReplyDeleteNawa ooo..al dis corupt leaders sha
ReplyDeleteWhy give it back to nigeria when is going to go the same way?
ReplyDeleteOkay This stupid Sani Abacha''' an Ugly Name for an Ugly MONSTER!
ReplyDeleteWHAT HAPPENED TO THE RETURNED MONEY, I GUESS THE BARAWO'S HAVE STOLEN IT.
ReplyDeleteAPPLYTOJOBS.BLOGSPOT.CO.UK
yeah abacha was a handsome guy minus the tribal marks
ReplyDeleteIt does not end with Abacha's. More of these thieves should be exposed. Dey don drain d masses money too much. ** Vexing **
ReplyDeleteSeriously naija can be revived. If they can use a big portion of this money to create jobs for the masses. Put it into a federal fund that disburses to corporations who provide jobs or the govt themselves should create jobs and make that the salary. It is sad that this money will not be accounted for or maybe it will.Who knows
ReplyDelete@ace bentley,I'm in support bro.
ReplyDeleteSince we are abt 160million in 9ja,they should give each person $1m n use d rest since its a stolen money cos d nxt tin now d money will miss amoung politicians
ReplyDeleteNa wa ohh! What will man not hear.
ReplyDeleteThank God they returned the money. Now, it is not only about exposng others. but the people they returned the money to.. what will they do with it.
http://naijpol.blogspot.co.uk/
I wait for that day when Nigerian youths will be looking at their leaders throught the barrel of a gun! I wait for that day when all these corrupt leaders will be stripped of their ill-gotten wealth as well as national honours post-mortem! I wait for that day when their families will be barned from participating in politics in the new Nigeria! A day when it will be sucidal to even think of looting public funds, a day when integrity, credibility and accountability will be the hallmark of governance. When the ballot will be stronger than the bullet, when majority of Nigerians will exhibit that little spark of celestial fire called conscience. To achieve these we need cleansing - blood must flow... 'The tree of liberty must from time to time be refreshend by the blood of patriots and tyrants; it is it's natural manure' - Abraham Lincoln. The question is this are we ready???
ReplyDeleteStory.... from Switzerland BACK to Switzerland under another name. na today Abdusalam also recovered some cash but did the most DISHONORABLE thing by keeping it to himself.
ReplyDeleteTell us something new, lets know the money has been put to good use for once.
So Abacha are you enjoying all the money you stole 6ft under? vanity upon vanity. Man with a heart of stone. Killed several to stay in power but he himself still died and didnt take a kobo with him. Sad that many are still not learning from his "legacy" for lack of a better word
ReplyDeleteWhere is our 'saint' General Buhari who is claiming Abacha never stole a dime from Nigeria. Birds of the same feather always protect themselves. Gen Buhari is as corrupt as any Nigerian ruler, , he is just smarter in knowing how to hide his loot. General mass murderer now turned Boko Haram. In Buhari' mind Abacha never killed anybody too.
ReplyDeleteOlu.
Alot of this money was stolen btw hajia Mariam Abacha and her children that's why they were more concerned with carting away raw cash n burying some in the northern desert using 40ft containers than giving him a befitting burial.His daughter Gumsu was moving hard cash worth millions of dollars across d border into Cameroun when she was caught.Isn't it ironic that she eventually married a Camerounian and now stays in France to be close to the loot.
Delete@lekan Oyo lo wa. You are totally on your own asking for blood bath before you can see results. Blood thirsty fool.
ReplyDeleteGod will continue to punish all of them dat stole and plundered the wealth and fortune of this great nation shebi Mohammed and im stupid mama they yarn say obasanjo just they beef dem they witch hunt them say im papa no steal dime now dey have eaten their vomit thieves inglorious bastard i wonder how much they stashed in other off shore accounts God pass them
ReplyDeleteTwas bn beta if d monie was nt returned cos it gonna go down 2 d wrong hands n ppl ,swiss govt una no suppose return d monie naw cos na waste no b say dem go use am do beta tinz sef onli 4 selfish purpose#angry face# Mrs Nnags Sexypressy Bonario
ReplyDeleteJust wondering, how come our own govt never told us about the returned money and what it was spent on? Morons
ReplyDeleteAll I noticed and care about is how handsome this man was..Too bad I was little when he was president..he was so cute..
ReplyDeletereturned to the hands of fellow thieves.....
ReplyDelete@ anon 6 dec 4:54pm u are d big fool,bastard,useless coward,may b u are part of dem u are even lucky u didn't put your name or picture.useless thief.
ReplyDeleteSea never dry!
ReplyDeleteSea never dry!
ReplyDeleteHis only mistake was that he died, if not he would have been a political godfather, a party chairman or an elder statesman enjoying his loot.
ReplyDeleteNa wa O��??��ooh
ReplyDeleteI\'m just speechless
LET'S PUT THE RECORD CLEAR...THIS IS FROM FRYING PAN TO FIRE. 7000MILLION DOLLARS RETURNED YES...BUT WHERE IS IT? THIS MONEY HAS BEEN SHARED AMONG POLITICIANS B4 IT EVEN GETS TO NIGERIA
ReplyDeleteAbacha has PHd in looting.....lol
ReplyDeleteFangs out.
ReplyDeleteRopes of saliva hanging out of their mouths.
A pack of hounds sniff and snarl around a hunk of fresh, bloody red meat...
That's the image I have of Nigeria's politicians after reading this piece of news.
***Lush
Plato: one of the greatest philosopher said this to Nigerians "One of the penalties ƒor refusing to participate in politics is that you'll end up being governed by your inferiors"
ReplyDelete