Minister of Justice and Attorney General of the Federation, Abubakar Malami, the Switzerland government and World Bank yesterday signed a Memorandum of Understanding for the return of $321 millions of Abacha loot. The memorandum was signed at the ongoing Global Forum on Asset Recovery GFAR meeting in Washington DC. A statement by the media aide to the Minister, Salihu Isah, said the Director of the Directorate of International Law and head of the Swiss delegation to the GFAR, Roberto Balzaretti, signed the MoU on behalf of the government of Switzerland and the Country Director of the World Bank office in Abuja, Mr. Rachid Benmessaoud signed on behalf the World Bank. He explained that the funds would be returned to Nigeria in tranches under a project known as “the National Social Investment Program” aimed at strengthening social security for the poor in Nigeria. “The MOU stipulates that the restitution of funds will take place within the framew...
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