Switzerland set to transfer another $300m stolen by late dictator to Nigeria

Foreign  Affairs Minister, Geoffrey Onyeama, has announced that The government of Switzerland is prepared to transfer to the Nigerian government, another $300 million recovered from the family of former military ruler, Sani Abacha.

Over the last 10 years, Nigeria has received over $1 billion from the Swiss and American governments. Recent reports however show that the Goodluck Jonathan administration may have misappropriated the funds.

According to Premium Times, shortly before the 2015 Presidential election, the former Minister of Finance, Ngozi Okonjo-Iweala, authorised the  diversion of at least N61.4 billion ($300 million and £5.5 million) from funds recovered from Mr. Abacha, to the Office of the National Security Adviser, Sambo Dasuki.

READ: How Okonjo-Iweala allegedly transferred N61.4bn Abacha loot to Dasuki with Jonathan's approval

Okonjo-Iweala said the money was meant for purchase of military equipment for the fight against Boko Haram.

It is believed that the money is part of the $2.1 billion distributed by Dasuki to politicians ahead of the polls.