Switzerland returning $321M of Abacha assets to Nigeria

The Swiss government says it has reached a deal to return some $321 million to Nigeria that was seized from the assets of former military dictator Gen. Sani Abacha.

A statement by Swiss authorities says the two governments and the World Bank signed an agreement in Washington.

Switzerland says it seized hundreds of millions of dollars after the public prosecutor's office of Geneva opened a case against the former Nigerian leader. Swiss authorities say he originally placed the money in Luxembourg.

Abacha took power in a coup in 1993 and died under suspicious circumstances in 1998 while he was still in office. He has been accused of stealing as much as $5 billion during his time in power.