Buhari's Government to receive another $300 million Abacha loot from Switzerland

Late Nigerian Dictator, Sanni Abacha

* World Bank demands more time to provide details on Abacha loot

Nigeria’s Minister of Foreign Affairs, Geoffrey Onyeama says the Federal government is in talks with the Swiss government for the release of another $300 million loot stashed by former military ruler, Sani Abacha, in some Swiss banks.

Onyeama revealed this on Monday adding that the Swiss Government is willing to make the transfer to Nigeria.

“I met with Switzerland representatives last week to work out the modalities for the recovering of these funds. So far Nigeria has recovered over $700 million, and there are ongoing negotiations on how that money would be applied. Discussion is also ongoing to recover another $300 million,” he said.

The money is part of an estimated $5 billion stolen and stashed in foreign accounts by the late dictator.

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Nigeria has in the last 10 years received over $1 billion from the Swiss and American governments, but there are growing concerns past administrations misused the huge sum.