The Federal Executive Council on Wednesday approved a Memorandum of Understanding between Nigeria and Switzerland that will lead to the repatriation of $321m stolen fund to the country. The Attorney-General of the Federation, Mr. Abubakar Malami (SAN), disclosed this to State House correspondents at the end of a meeting of the council presided over by President Muhammadu Buhari at the Presidential Villa, Abuja. With the approval, Malami said he had been mandated to execute the agreement that would lead to the repatriation of the fund.
He said, “There exist a forum that is Global Assets Recovery Forum taking place in December, in US and we are looking towards that. We are in agreement substantially with Swiss for the recovery of additional sum of $321million. “That Memorandum of Understanding has been substantially agreed between Nigeria and Swiss. We intend to now execute or to sign off the agreement during the global forum on assets recovery coming up December.
“The intention of the memo is to seek the approval of the council to allow the Attorney-General to sign the agreement on behalf of the Government of the Federation of Nigeria. Two, is to develop an instrument of ratification which will now give the Attorney-General, the powers to ensure the repatriation of the funds.
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