Friday, November 21, 2003

Nigeria: didn't get stolen money back from Swiss

The Nigerian government is trying to get back $3 billion (or $4 billion, depending on your source) which was stashed in European banks by the late dictator Sani Abacha ... $640 million of that is in Swiss banks. The Swiss had agreed to return the cash as long as it was used for infrastructure projects ... however ...
... Swiss justice ministry said the money could not be released yet for procedural reasons.

The ministry added that the $640 million blocked in Swiss bank accounts was also subject to a investigation at a Geneva court into fraud and money laundering, and could not be released without the court's agreement.
Last post on this story here.