Nigeria: Buhari seeks World Bank’s help on $320m Abacha loot

* Vice President, Equitable Groth, Finance And Institutions, The World Bank, Mr Jan Walliser; World Bank Managing Director, Ms Sri Mulyani Indrawati; President Muhammadu Buhari And Chief of Staff, Alhaji Abba Kyari, during the visit of World Bank Executives to the Presidential Villa in Abuja.

* Vice President, Equitable Groth, Finance And Institutions, The World Bank, Mr. Jan Walliser; World Bank Managing Director, Ms. Sri Mulyani Indrawati; President Muhammadu Buhari And Chief of Staff, Alhaji Abba Kyari, during the visit of World Bank Executives to the Presidential Villa in Abuja.

28 April 2016, Abuja — President Muhammadu Buhari has asked the World Bank to help Nigeria recover N102.4 billion ($320 million) allegedly looted and hidden in Swiss bank accounts by the late military dictator, General Sani Abacha.

Buhari made the appeal, yesterday, during a visit by the World Bank’s Managing Director, Sri Mulyani Indrawati, to Abuja, according to a statement released by the President’s office.

Authorities in Switzerland agreed to return the funds on the condition that they are used for social programmes monitored by the World Bank.

The statement said: “We need the support of the World Bank for the repatriation of the funds. If such repatriated funds have been misapplied in the past, I assure you that the same will not happen with us.”

Recalled that the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, on March 9, signed a letter of intent for the repatriation of $321 million allegedly stashed in Swiss banks by Abacha.

The event, which was preceded by a brief discussion between Vice President Yemi Osinbajo and Swiss Foreign Affairs Minister, Didier Burkhalter, took place at the Vice President’s conference room, where Burkhalter signed for his home country, with Swiss Ambassador, Eric Mayoraz, and his Chief of Staff, Damien Cottier, in attendance as witnesses.

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