The Nation Newspaper

Tag: Switzerland

  • Switzerland: we’ve returned over $1b Abacha loot to Nigeria

    Switzerland has repatriated over $1billion Abacha loot to Nigeria, its Ambassador Eric Mayoraz aid yesterday in Abuja.

    He added that his country is collaborating with the federal government to trace and repatriate looted funds stashed in foreign lands.

    Mayoraz said “All fund hidden in Swiss banks by Abacha was fully repatriated and so we don’t have any of such fund in Switzerland again. $752m was returned in 2005 and we discovered more and more in other banks and that involved the $322.5m that was repatriated earlier this year.”

    He spoke at the Forum on Asset Recovery hosted by the Swiss Embassy to discuss issues surrounding the Abacha 2 asset recovery between the two countries with many non-governmental organisations and representatives of international agencies in attendance.

    Although the envoy declined to reveal details of the funds that would likely be repatriated back to Nigeria, he explained that the ongoing efforts are geared towards getting a positive result in line with the Mutual Legal Persistence Request agreement signed between the two countries.

    Decrying what he termed lack of transparency in the Nigerian government’s handling of the funds, Mayoraz said the Swiss government insisted on the involvement of the World Bank in the management of the $322.5m to ensure that money was spent to alleviate the sufferings of the poor.

    “Unfortunately, some of the assets that were returned, there was not so much transparency in it. So, we have to introduce the World Bank to get involved in this so that this particular one can be used by the Nigerian government with the monitoring of the World Bank”, he said.

    Special Assistant to the President on Justice Reform, Mrs. Juliet Ibebaku-Nwagwu, said the administration of President Muhammadu Buhari has done a lot to engender the confidence of the Swiss government and other partners that the recovered assets would be deployed judiciously and transparently in line with the agreements reached.

    She said the money would be deployed to service the Social Investment Scheme which is also an existing World Bank project.

    “Let me just say this, we just want our money back. By this administration’s commitment to open government partnership, we want the people to be involved in the monitoring of the stolen assets that were returned. We also came up with the open budget process so that Nigerians would know every budget details and they can be checked online too.”

    Executive Director of African Network for Environment and Economic Justice, Mr. David Ugolor, said there was a need to monitor the deployment of all recovered assets to “ensure that they are properly used for what they are meant for in Nigeria.”

  • Brazil held to 1-1 by Switzerland in Group E opener

    A second half header from Steven Zuber cancelled out a sensational early goal from Philippe Coutinho as Switzerland and Brazil drew 1-1 in a tight Group E World Cup opener on Sunday.

    With 20 minutes gone, Coutinho gathered a 25-yard clearance from goal and curled a shot into the far corner off the post to give the five-time world champions the lead.

    However, Switzerland, who had looked toothless throughout the first half, got back on level terms five minutes into the second half.

    Zuber rose unmarked to head home a corner kick.

    Coutinho had Brazil’s best chance after the break but shot wide.

    The result means that Serbia lead Group E after beating Costa Rica 1-0 earlier in the day. (Reuters/NAN)

  • Switzerland to invest in clean energy sector

    Switzerland is willing to invest in Nigeria’s clean energy sector to help the country meet its power needs, its Consul-General Mr Yves Nicolet, has said.

    According to him, there were 47 Swiss firms operating in various sectors of the economy, including Tellco Europe Nigeria, whose parent company is Tellco Europe Switzerland.

    He said more Swiss firms would join the firm, which launched a Swiss technology known as TellcoSol, an off-grid solar power solution.

    Nicolet, who spoke at a briefing by Tellco Europe Nigeria to mark this year’s World Environment Day, said Switzerland was aware of Nigeria’s energy gap and would bring more investments to the sector.

    “We’re trying to bring more investments, especially in the clean energy sector. One of the biggest challenges Nigeria needs to meet is to increase its energy supply,” he said.

    He described the off-grid solution as “the technology that will shape the future of Nigeria and the continent”.

    Tellco Europe Nigeria Chairman, Prof Wale Omole, said the firm was determined to contribute towards the attainment of accessible and affordable clean energy in Africa.

    “Our overall cardinal goals and objectives at Tellco Europe Nigeria are to create new continental economic opportunities for growth and development through powering the Micro, Small and Medium Enterprises (MSMEs) with efficient clean energy; to increase access to affordable and sustainable energy and reduce carbon emission; to champion low carbon development through clean efficient energy systems, and end energy poverty in Africa for sustainable continental and equitable development.

    “As we join the world to ‘beat plastic pollution’, TellCo Europe Nigeria remains committed to ending energy poverty in Nigeria, and electrifying the African continent within a very short time,” Prof Omole said.

    The solar technology includes the 1200 watts TellcoSol model known as Lugano, which comes with a three-year warranty, two-year insurance, and can provide solar-powered electricity for over 24 hours daily, with fixed options of two AC standing fans, a 32-inch television, a refrigerator, among others.

  • FIFA files criminal complaint against online ticket seller Viagogo

    Soccer’s ruling body FIFA has filed a criminal complaint against online ticket reseller Viagogo, saying it wanted to protect fans and prevent unauthorised ticket resale at the World Cup in Russia starting next week.

    Zurich-based FIFA said on Tuesday it had filed a complaint, based on the law on unfair competition, with the public prosecutor’s office in Geneva after receiving complaints about the Swiss company’s practices.

    Viagogo did not reply immediately to a request for comment.

    “FIFA’s ultimate objective in the fight against the secondary ticket market is to prioritise the safety and security of fans and enforce a fair 2018 FIFA World Cup ticketing pricing scheme,” it said in a statement.

    Read Also: Doping: Russia has no case to answer says FIFA

    The logo of FIFA is seen in front of its headquarters in Zurich, Switzerland September 26, 2017.

    FIFA said that its own website was the only legitimate place to buy World Cup tickets, which are on sale until July 15 – the final day of the tournament.

    “FIFA regards the illicit sale and distribution of tickets as a serious issue,” it said.

    “Tickets purchased via unauthorised distribution channels, including all tickets purchased through viagogo AG, will be canceled once identified.

    “FIFA reserves the right to refuse entry to the stadium to any holder of such tickets.

    NAN

  • ANEEJ’ Director invited for UNCAC panel

    Her Majesty the Queen’s Government and the United States government have invited ANEEJ executive director, the Rev David Ugolor to the UN Convention against Corruption Asset Recovery Working Group, June 7, 2018 in Vienna, Austria.

    A letter from the Office of Anti-Crime Programs of the Bureau of International Narcotics and Law Enforcement, the US Department of State, said that in building upon the outcomes of the inaugural Global Forum on Asset Recovery (GFAR), this side event will focus on how countries are promoting transparency and accountability in asset recovery processes through successful implementation of the GFAR Principles for Disposition and Transfer of Confiscated Stolen Assets in Corruption Cases.

    A panel of experts, to include the Rev David Ugolor, will focus on several of the GFAR Principles and share experiences and good practices on how their countries have put them into practice through concrete examples to ensure transparency and accountability in the repatriation of recovered assets.

    In addition, the Office of Anti-Crime of the UD Department of State said that ‘given ANEEJ work and broader engagement on this issue through the UNCAC Coalition, the United States and the UK governments said they decided to invite the Rev David Ugolor to participate on a panel to share lessons learned and best practices from the perspective of civil society’.

    Other panelists will include representatives from the United Kingdom, the United States, Switzerland, Nigeria and Sri Lanka. A representative from the Stolen Asset Recovery Initiative (StAR) will moderate the panel.

  • Switzerland returns Abacha’s $322.5m loot ‘with interest’

    SWITZERLAND said it has returned all the money kept in the country by late Head of State Gen. Sani Abacha with $1.5 million interest.

    Assistant Director-General and Head, Global Cooperation Department, Swiss Agency for Development and Cooperation, Ambassador Pio Wennubst, broke the news to the News Agency of Nigeria (NAN) in New York.

    Wennubst said Switzerland returned about $322.5 million (N116.11 billion) to the Federal Government.

    According to him, the original amount was $321 million.

    The Federal Government had announced receipt of $322.51 million from the Swiss government as part of the looted funds recovered from the late former Head of State.

    Minister of Finance Mrs. Kemi Adeosun, through her Special Adviser, Media and Communications, Oluyinka Akintunde, had confirmed the receipt of money from Switzerland.

    Akintunde said: “We state that $322,515,931.83 (N116,105,735,458.80) was received into a Special Account in the Central Bank of Nigeria (CBN) on December 18, 2017, from the Swiss government.”

    Confirming this, Wennubst said: “We returned $321 million, including the interests.

    “We return all the amount, $322.5 million, including the interest for the time that the funds were blocked.”

    The Swiss envoy added that the money was returned to the Nigerian Government unconditionally.

    “We are not talking about the condition; there was a programme on the social safety net that was developed by the Government of Nigeria and the bank.

    “After discussing, the only condition, set by the judiciary, not by us, was that the return of this asset should have been monitored by the World Bank and this is where we worked on,” he added.

    According to him, these funds were part of the Nigerian Government contributions to the social safety net programme, “plus concessional loans from the bank”.

    The ‘Abacha loot’ was frozen in 2014 by a Swiss court after a legal procedure against his son, Abba Abacha.

    Originally deposited in Luxembourg, the money was a fraction of the billions of dollars allegedly looted during his rule from 1993 to 1998.

    Similarly, the UK Government also pledged its commitment to ensuring that money and other assets illegally transferred from Nigeria are repatriated back to the country.

    Director General, Economic Development and International, UK Department for International Development Mr. Nick Dyer told NAN that assets return would contribute to origin countries’ grow.

    Dyer said it was an important part of grow process to identify how and where assets were going astray and to also recover them and send them back.

     

  • ‘Switzerland returned $322.5m Abacha loot with interest’

    Switzerland said it has returned all the money kept in the country by late Nigeria’s Head of State Gen. Sani Abacha, with 1.5 million dollars interest.

    Amb. Pio Wennubst, Assistant Director-General and Head, Global Cooperation Department, Swiss Agency for Development and Cooperation, told our Correspondent in New York.

    Wennubst said Switzerland returned about 322.5 million dollars ( N116.11 billion ) to the Federal Government.

    According to him, the original amount was 321 million dollars.

    The Federal Government had announced receipt of 322.51 million from the Swiss government as part of the looted funds recovered from the late former Head of State.

    The Minister of Finance, Mrs Kemi Adeosun, through her Special Adviser, Media and Communications, Oluyinka Akintunde, had confirmed the receipt of money from Switzerland.

    Akintunde said: “We state that $322,515,931.83 (N116,105,735,458.80) was received into a Special Account in the Central Bank of Nigeria ( CBN ) on Dec. 18, 2017, from the Swiss government’’.

    Confirming this, Wennubst said: “We returned 321 million dollars including the interests.

    “We return all the amount, 322.5 million dollars including the interest for the time that the funds were blocked’’.

    The Swiss envoy also said that the money was returned to the Nigerian Government unconditionally.

    “We are not talking about the condition; there was a programme on the social safety net that was developed by the Government of Nigeria and the Bank.

    “After discussing, the only condition, set by the judiciary, not by us, was that the return of this asset should have been monitored by the World Bank and this is where we worked on’’.

    According to him, these funds were part of the Nigerian Government contributions to the social safety net programme, “plus concessional loans from the Bank”.

    We recall that the ‘Abacha loot’ was frozen in 2014 by a Swiss court after a legal procedure against his son, Abba Abacha.

    Originally deposited in Luxembourg, the money was a fraction of the billions of dollars allegedly looted during his rule from 1993 to 1998.

    Similarly, the UK Government also pledged its commitment to ensuring that money and other assets illegally transferred from Nigeria are repatriated back to the country.

    Mr Nick Dyer, Director General, Economic Development and International, UK Department for International Development told our correspondent that assets return would contribute to the development of the origin countries.

    Dyer said it was an important part of the development process to identify how and where assets were going astray and to also recover them and send them back.

    NAN

  • Neymar vows to work harder to be ready for World Cup

    Injured Brazil striker Neymar has targeted May 17 for a return to training, vowing to work harder than ever to be ready for this year’s World Cup in Russia.

    The Paris St Germain player, who joined the club from Barcelona in August, had an operation on his foot after being injured in a French league game against Olympique de Marseille on Feb. 25.

    He has been receiving treatment in Brazil and said he expects to be training exactly a month before the five-time champions play their World Cup opener against Switzerland on June 17.

    “I get my final exam, if I’m not mistaken on May 17 and then I’ll be free to play,” he told reporters at a news conference in Sao Paulo.

    “I had an exam last week, it is all perfect, evolving well, so I hope that continues so I can get back as soon as possible…

    “I am having treatment every day and from the moment I start training I am going to work harder than I ever worked because this is a dream that’s coming up, it’s a World Cup.

    “I’ve waited four years for this chance, its close and I hope to get there in great shape.”

    Neymar played for Brazil at the 2014 World Cup, but missed the catastrophic 7-1 semi-final defeat by Germany through injury.

    Brazil struggled in the two years immediately after their home World Cup, but have since rebounded and go to Russia as joint favourites with bookmakers along with Germany.

    Read Also: Neymar dreams return to Nou Camp

    Neymar, who joined PSG for a fee of 222 million Euros ( $275 million ), said he was apprehensive about kicking a football again after almost three months out.

    “I expect to go ( to the World Cup ) in a better state than before,” he said.

    “Of course, doubts exist and I feel them too sometimes, but that’s normal for a guy who has had the first surgery of his career. It’s very difficult for me not playing and not training.”

    “I have to work even harder, but I am going to have enough time to arrive in form for the World Cup, to prepare.

    “It was horrible getting injured, but I am more rested, that’s the upside. We have to see the positive side of things.”

    After opening their Group E World Cup campaign against Switzerland, Brazil face Costa Rica on June 22 and then Serbia five days later.

    NAN

  • Methodist Church back’s Buhari’s anti-graft, terrorism wars

    The Methodist Church of Nigeria, Metropolitan Diocese of Ikeja, has said it is satisfied with the Federal Government’s war against corruption and terrorism.

    It encouraged President Muhammadu Buhari “to remain focused, dogged and unwavering.”

    The Diocese stated this on Sunday in a communiqué marking the end of its three-day second annual synod at Elliot Memorial Methodist Church, Iju, Lagos.

    The statement was signed by the Bishop, Metropolitan Diocese of Ikeja, Rt. Revd (Dr.) Stephen Adegbite; Synod Secretary, Very Rev. Simeon Onaleke and Lay President, Frederick Ogunjuboun.

    It urged Buhari to avoid a selective anti-graft war “but a war under which no one is sacred or untouchable, not minding party affiliation or alliance.”

    The synod admonished the Legislature and Judiciary to complement Buhari’s efforts.

    “No arm of government should be seen to be mounting a stumbling block against concerted efforts geared towards winning this war,” it said.

    The synod noted “with joy” that the Boko Haram “has been severely decimated and its capabilities totally reduced.”

    It called for better cooperation in the intelligence community, “so that planned attacks can be nipped in the bud before they are carried out as it was the case in Dapchi, Yobe State, North East, Nigeria.”

    Synod also thanked the governments of Switzerland, the United States of America (USA), Great Britain, France and Belgium and the Red Cross for their efforts in securing the release of 101 of the kidnapped Dapchi girls.

    “Synod calls on everyone to continue to pray for the unconditional release of Leah Sharibu who is still being held because of her refusal to denounce her faith and others including the Chibok girls yet to be released,” it said.

    The church also commended Buhari’s emphasis on food security which, in its view, had boosted rice production to 17 million metric tons per annum from 5.7 million metric tons which it was in 2015.

    It, however, lamented the non-passage of the 2018 Budget and “epileptic” power supply in the country.

    Lagos State Governor Akinwunmi Ambode, it said, had made “giant strides” especially in infrastructural development.

    The church congratulated Ambode for “the peace that continues to reign in state despite the religious, cultural and social diverseness of Lagos residents.”

    In particular, it noted the governor’s efforts to stop the notorious “Badoo Cult Group that terrorised the Ikorodu community.”

    It, however, appealed for the downward review of the recently increased Land Use Charge.

    The church also condemned hate speech, herdsmen attacks and cattle rustling menace, calling on the Federal Government to act fast on a solution.

    It added: “Synod regrets the pockets of agitation from across the country, from the Avengers, Indigenous people of Biafra (IPOB), coupled with the assertion of rights by Ijaw People’s Congress, Oo’dua People’s Congress (OPC), Arewa Youth Congress and Consultative Forum, etc.”

  • Abacha loot: FG confirms recovery of $322.51m from Switzerland

    The Federal Government says it has received 322.51 million dollars from the Swiss Government as part of looted funds recovered from former Head of State, late General Sani Abacha.

    Mr Oluyinka Akintunde, the Special Adviser, Media and Communications to the Minister of Finance, said this in a statement on Tuesday in Abuja.

    According to Akintunde, the government received the money since Dec., 2017.

    Akintunde said there was no controversy surrounding the recovery of stolen funds by the former head of state from the Swiss Government.

    “The minister wishes to dissociate herself and the Federal Ministry of Finance from recent reports on the Abacha refunds.

    “The minister had at no time written any letter to the President or any member of the Federal Executive Council ( FEC ) on the payment of lawyers for the Abacha recovery.

    “She also refutes the flawed reports of controversy surrounding the Abacha recovery.

    “We wish to state that the sum of 322,515,931.83 dollars was received into a Special Account in the Central Bank of Nigeria ( CBN ) on Dec. 18, 2017 from the Swiss Government.

    “For the avoidance of doubt, there is no controversy concerning the recovery of the Abacha monies from the Swiss Government,” he said.

    Akintunde said the Minister of Finance, Mrs Kemi Adeosun, frowned at a recent report that she objected to the payment of 16.9 million dollars to two lawyers who recovered the Abacha funds.

    In 1999, the Nigerian Government hired Mr Enrico Monfrini, a Swiss lawyer to recover the Abacha loot.

    After a successful negotiation by Monfrini, the recovered money was domiciled with the Attorney-General of Switzerland pending the signing of an MoU with Nigeria to avoid the issues of accountability that trailed previous recoveries.

    All that was left after the signing of the MoU was a government-to-government communication for the money to be repatriated to Nigeria.

    However, Abubakar Malami, the Minister of Justice and Attorney-General of the Federation, later engaged the services of another set of lawyers in 2016 for a fee of about N6 billion (16.9 million dollars).

    The two Nigerian lawyers are Mr Oladipo Okpeseyi, a senior advocate of Nigeria ( SAN ), and Temitope Adebayo.

    NAN