185 MILLION EUROS TO BE RECOVERED FROM LIECHTENSTEIN

The Federal Government has announced it is collaborating with the World Bank to recover about 185 million Euros transferred to some commercial banks in Liechtenstein by the late military ruler General Sani Abacha, through some companies he owns and registered in that country. Speaking on efforts by the government to repatriate the funds which she said would be used to finance rural development projects across the country, Minister of Finance, Dr. Ngozi Okonjo-Iweala, said the recovery effort have been ongoing for the past 14 years, under President Olusegun Obasanjo when about $500 million was also repaid by banks in Switzerland.  The minister however accused the Liechtenstein government and the liable companies of often placing legal challenges to delay the repatriation of funds, thereby earning continued interest on them.