Strong Indications are emerging that the more than USD700 million that was returned to the Nigerian government, from the Swiss banks, by the Swiss government is not the only money stolen by the late dictator.  There are other countries in Europe and the United States of America that failed to cooperate with the efforts made by the government of Olusegun Obasanjo, to repatriate the money stolen by Abacha and his aides.  Among others, these countries include United Kingdom, Germany, Liechtenstein, Luxembourg and Jersy. The total money lodged in these countries’ banks is running to the tune of over USD1 billion, according to the Swiss Bankers Association (SBA). About USD600 million is currently in a bank, in Luxembourg and about USD200 million in Liechtenstein.

Switzerland is the only country in Europe that accepted with the Nigerian authority to repatriate the money, stolen by Abacha family. The Swiss government had to relax its banking secrecy to enable it return all stolen assets in the Swiss banks, in a bid to clean up the battered image that the country is a safe place for stolen wealth.

 Mr.  Erico Monfrini, a Swiss lawyer to Nigerian government on recovering stolen assets, who  has equally  made publications on the legal proceedings on Abacha’s  case disclosed that a total of USD1.3 billion has been returned to the federal, between  1999 and date. He said part of the monies was returned directly to the government without informing him, as counsel to the Nigerian government. 

Narrating his experience in the legal process that led to the return of the first tranch of USD700 million, Barrister Monfrimi said: “In the case of Abacha, Nigerian government used a combination of sending requests for mutual assistance and lodging criminal complaints for money laundering in Jurisdictions where assets of the Abacha criminal organisation had been identified or were suspected to be. 

He also informed that “the criminal proceedings were then stalled by objections and appeals by Abacha’s son, (Mohammed) and one Abubakar Bagudu. In April 18, 2005, an Abuja court of appeal found out that Abacha sons could not claim any immunity, which their father enjoyed, from prosecution based on Decree No. 53 of May 26, 1999, nor on the basis of sovereign immunity 

“This strategy resulted in the freezing of USD2 billion in ten jurisdictions, of which to date USD1.2 billion has been recovered   by Nigeria through mutual assistance, forfeiture or settlements, the Swiss lawyer said.  Monfrimi pointed out that the Abacha case with the Nigerian government has not ended until the monies in Luxembourg, the United Kingdom, Liechtenstein and Jersey returned to Nigeria. 

According to him, “On February 29, 2000, a letter Rogatory was sent to Luxembourg, based on  with evidence gathered in Nigeria, which showed that seven transfers totalling  less than USD32 million to two accounts  with M.M Warburg &Co Luxembourg S.A. The request for mutual assistance was accepted by Luxembourg on 17 March, 2000, and on 20 March eight accounts with the bank, with assets totalling  USD630 million were frozen.  It was also learnt that the money in Luxembourg bank was laundered through London bank. Investigations further revealed that the late Abacha was designated as beneficial owner of only three accounts of the 130 accounts used by Abacha .... organisation. The designated beneficial owners of the other accounts were in most cases his sons, and in most cases businessmen who had gained his trust.

The Nigerian counsels said the Abacha children have resorted to delaying tactics, without providing law enforcement authorities with any explanation as to the origin of their fabulous wealth. The case involving the Luxembourg and Jersey is expected to resume next year, but Monfrimi expressed concern that the country might wish to fight back. He also feared that the Jersey accounts might pose some setbacks.