The Swiss ambassador to Nigeria, Dr. Hans-Rudolf
Hodel, said the United States’ $700 million stashed in Swiss banks by the
late military head of state General Sani Abacha has been returned to Nigeria.
Hodel added that Swiss and Nigerian governments
have agreed to request the World Bank to participate in the review of the use
of the funds on welfare projects.
“Regarding Sani Abacha, Switzerland has
restituted and returned $700 million of illicit assets to Nigeria,” he said.
The ambassador said in
addition to the return of the funds, Switzerland also funded a project of an NGO
network that monitored the use of the recovered monies in the various
development projects.
On the case against the
late Abacha’s son Abba, Hodel said proceedings over support of a criminal
organization were still pending in Geneva.
“There are special procedures
to deal with foreign clients who are PEPs (politically-exposed persons),” he
said. “Swiss banks must put clients into different risk categories. They might
decide not to start business relationship with a PEP because of the reputation
risk involved. Swiss banks are obliged by law to report well-founded suspicions
of criminal activity and simultaneously freeze the assets in question.”
When asked on a recent
report on Swiss traders involved in opaque $6.8 billion oil deals in Nigeria,
the envoy said they have not received any formal request regarding that.
“I have no knowledge that
we have been contacted by the authorities. In case they will start proceedings
and they will need our help, of course with international legal cooperation we
will help them if they approach us. But until now, they have not approached
us,” he said.
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