Nigeria
Nigeria gets back fortune robbed by ex-dictator

afrol News, 17 April - When the Nigerian military dictator General Sani Abacha died of a heart attack in 1998, he died a rich man. The man standing in the way for democracy had been able to rob enormous amounts from the country's oil resources in the five years he held power. Now, Nigeria is getting back US$ 1 billion from his foreign bank accounts.

The Swiss Federal Office of Justice today announced that "the largest part of the Abacha assets blocked in foreign countries, in excess of one billion US dollars, are to be transferred to the Bank for International Settlements in Basel in favour of the federal government of Nigeria." Swiss banks alone are being ordered to return US$ 535 million.

As democracy was restored in Nigeria after Abacha's death, the new government in late 1999 moved to secure the waste "personal savings" the Abacha family had placed in bank accounts all over the world. In the autumn of 1999, Switzerland was the first country to block assets in the Abacha case. Apart from Switzerland, further countries received requests for judicial assistance from Nigeria, notably the UK and tax paradises as Luxembourg, Liechtenstein and Jersey. In these countries, too, partially substantial amounts of money were blocked. 

The return of General Abacha's robbed assets however had to await a verdict in the international court case between the Nigerian authorities and the General's family and business associates. This week, the two parties agreed to an out-of-court settlement. According to the settlement, US$ 1 billion are to be returned to the Nigerian government, while the authorities in return have said they will drop criminal proceedings against members of the Abacha family.

The Nigerian government has agreed to release to the Abacha family about US$ 100 million, which the family acquired prior to Abacha's term of office and which, according to the Nigerian authorities, demonstrably do not derive from criminal acts. The Nigerian authorities, on their part, will abandon various criminal proceedings, particularly against Mohammed Sani Abacha, the son of the former Head of State, and against the businessman Bagudu Abubakar. Abdulkadir Abacha, the former state president's brother, however was not part of the settlement, and proceedings against him will continue.

When Abacha died in 1998, he was suspected of having placed US$ 3 billion abroad. In 1999, 19 Swiss banks blocked US$ 700 million found on accounts in Abacha's name. A 2001 report by the Swiss Federal Banking Commission (SFBC) did not find any more Abacha assets, but blamed 6 of the 19 banks of turning a blind eye on Abacha accounts.

General Abacha's military regime had caused international outrage for its poor human rights record and systematised corruption. The leader of the opposition against Abacha, Chief Abiola, who assumingly won the 1993 elections, was thrown to prison in 1994 and died in 1998. Abacha's Nigeria in 1995 was suspended from the Commonwealth following the execution of Ken Saro-Wiwa and eight other minority rights activists. 

The unpopular military leader's sudden death in 1998 was widely celebrated in 1998 and caused a quick return to democracy in Africa's most populous country.

Sources: Based on Swiss Federal Office of Justice and afrol archives

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