ABUJA—The Federal Government disclosed, yesterday, it has recovered $100 million looted funds from Switzerland.
Minister of Foreign Affairs, Geoffrey Oyeama stated this at the inaugural ceremony of the 22nd regular course of Foreign Service Academy in Abuja.
Oyeama said: “Nigeria recently recovered a huge amount of money from the government of Switzerland. I met with Switzerland representatives last week to work out the modalities for the recovering of these funds. So far Nigeria has recovered over $700 million, and there are ongoing negotiations on how that money would be applied. Discussion is also ongoing to recover another $300 million.”
The minister explained that Nigeria was also discussing with other countries such as the United Kingdom, United States and others to recover Nigeria’s looted funds.
“Mr. President had earlier visited the United States. There were discussions there. So, there are ongoing discussions with governments around the world to bring these funds back to Nigeria,” he said
Speaking also at the event, the Permanent Secretary of the Ministry of Foreign Affairs Ambassador Bulus Lolo called on the 113 foreign service trainees to be committed to the one year course.