Switzerland government is now ready to transfer another $300million recovered from the family of former maximum ruler, late General Sani Abacha, to the Nigerian government.
This was revealed by foreign affairs minister, Geoffrey Onyeama. The money is part of an estimated $5bn that was stolen and stashed in foreign accounts by the late dictator.
Nigeria has in the last 10 years received over $1 billion from the Swiss and American governments, but there are growing concerns past administrations misused the huge sum.
Finance minister of finance, Ngozi Okonjo-Iweala, with approval of ex-President Goodluck Jonathan, had authorised the diversion of at least N61.4billion ($300million and £5.5 million) from funds recovered from late Abacha, to the Office of the National Security Adviser, headed then by Sambo Dasuki.
These suspicious transfers took place just few weeks before the 2015 presidential election.
The former minister said the money, which was not approved by the National Assembly, was meant for that purchase of military equipment for the fight against Boko Haram.
