Falana To FG: Reject Swiss’ Conditions For $321m Abacha Loot

Lagos lawyer, Femi Falana, has asked
the federal government to reject, without
any further delay, the conditionality
attached to the repatriation of the sum
of $321 million Abacha loot from
Switzerland to Nigeria.
The conditionality includes the
supervision of the utilisation of the
money by the World Bank.
Falana said that if Switzerland refuses to
return the said $321 million without any
conditionality, the government should not
hesitate to initiate legal proceedings for
the recovery of the asset.
The lawyer, who said this in an open
letter he sent to the government, also
advised that in the proposed suit, Nigeria
should claim punitive and exemplary
damages and interests from Switzerland
for keeping the loot for over 20 years.
The letter reads in part: “We note that,
recently, the Swiss ambassador to
Nigeria, Mr Eric Mayoraz, disclosed that
the Swiss government would soon return
$321m of Abacha loot to Nigeria. As part
of the process of repatriation, the
ambassador claimed that the government
of Switzerland has, unilaterally, requested
the World Bank to supervise the spending
of the returned loot.
“We note that grand corruption, money
laundering and return of stolen assets
have long become major issues of
concern to the international community.
We further note that Switzerland has
acceded to all the relevant international
treaties such as the United Nations
Convention against Corruption for the
return of assets.
“We believe that the conditionality
imposed on Nigeria, which allows the
World Bank to supervise the spending of
returned assets by the Nigerian
government, breaches international law
principles and standards.”
Falana contended that Switzerland has
no legal authority to impose conditions
on Nigeria regarding the spending of
recovered assets.
“Imposing conditions on Nigeria regarding
the spending of returned assets is
disproportionate and amounts to an
unlawful intervention because
Switzerland has no legal or moral right to
the assets. Indeed, Switzerland is
completely complicit for the stashing and
depositing of stolen assets from Nigeria
in its banks and other financial
institutions.
“We are seriously concerned that the
World Bank itself has not demonstrated
sufficient level of transparency and
accountability in its supervision of
spending of previously returned Abacha
loot.
“For example, the World Bank has so far
refused to satisfactorily disclose
information on the spending of recovered
Abacha loot requested by Nigerian
anticorruption NGO, Socio-Economic
Rights and Accountability Project,
(SERAP).
“Having regard to the empty promises
made so far by Switzerland and the
United States to return forfeited assets
worth over $800 million, it is clear that
the Western countries will continue to
frustrate the repatriation of the looted
wealth of the nation being warehoused
by them, albeit illegally.”
Falana urged the federal government to
collaborate with relevant civil society
organisations to mount a campaign,
locally and internationally, to ensure full
compliance by Switzerland, the United
States and other Western countries to
international law principles of
accountability, sovereignty, equality,
fairness and non-interference.