The Ambassador of Switzerland to Nigeria, Dr. Hans-Rudolf
Hodel has disclosed that a total of $700 million deposited in Swiss
banks by the late former military President, General Sani Abacha have so
far been returned to the Nigerian government even as proceedings are
still pending in Geneva against Abacha’s son, Abba, for support of a
criminal organisation.
The envoy made this known in
Abuja, yesterday when he briefed newsmen about an upcoming seminar by
the Switzerland embassy and the Inter-Governmental Action Group against
Money Laundering in West Africa (GIABA) on Anti - Money Laundering and
Combating the Financing of Terrorism.
According to Hodel, in the
last 15 years, Switzerland had returned about $1.7 billion of illegal
and questionable sources to their countries of origin including Angola,
Peru, Nigeria and the Philippines, where he noted that he is not aware
of the existence of $1 billion alluded to by former President Olusegun
Obasanjo as still being held in the Swiss banks.
The envoy noted
that the Abacha case and others led to Switzerland taking more stringent
steps to combat illicit dealings in its financial sector: no anonymous
accounts, banking secrecy which is lifted when there are suspicions of
criminal activities, strengthening anti- money laundering regulations
and being an active member of the Financial Action Task Force against
Money Laundering and Terrorist Financing.
“Swiss banking secrecy
does not any protection against criminal prosecution, neither within
Switzerland nor regarding international legal assistance. Additional
measures prevent assets from being withdrawn before foreign authorities
and law enforcement agencies submit a formal request for legal
assistance or information for investigative purposes,” Hodel said.
Such
assistance, he added, may include providing the banking information and
the freezing of bank accounts if such accounts have been identified in
the criminal proceedings outlined in the legal requests. It is
important, he said, that returned funds are not embezzled by corrupt
officials of the benefiting government.
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