Nigeria, Switzerland sign deal to return stolen assets
Nigeria and Switzerland have signed a memorandum of understanding to pave the way for the return of illegally acquired assets, the west African country said.
Switzerland said in December that it would return to Nigeria around $321 million in assets seized from the family of former military ruler Sani Abacha via a deal signed with the World Bank.
Buhari’s spokesman said in an emailed statement that the memorandum of understanding ratified was between Nigeria, Switzerland and the International Development Association, (IDA), the World Bank’s fund for the world’s poorest countries.
“The return of illegal assets will not only boost the administration’s anti-corruption drive, but also provide additional funds for critical infrastructure,” said the spokesman in the statement.
Separately, Buhari also signed an agreement with Singapore on Monday for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains, the spokesman’s statement said.
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