Out-of-court settlement in the Abacha case - Nigeria to receive more than a billion USD; The countries concerned cooperate in the implementation of the settlement
Berne/Geneva, 17.4.2002 - Switzerland has been informed that Nigeria has signed an out-of-court settlement with some of the defendants in the Abacha case: the nigerian authorities will discontinue the criminal proceedings against the persons participating in the settlement, and delete their names from the requests for judicial assistance submitted to foreign countries. In return, the largest part of the Abacha assets blocked in foreign countries, in excess of one billion US dollars, are to be transferred to the Bank for International Settlements in Basel in favour of the federal government of Nigeria. All the parties will now cooperate toward the restitution of the assets.