Minister of finance, Kemi Adeosun, says Nigeria has been battling to recover late general Sani Abacha loot from Swiss Bank (320 million dollars) for 22 years.
The minister disclosed this at a tax conference organised by the Organisation for Economic Cooperation and Development at the UN Headquarters in New York.
“We’ve been battling with the Swiss on Abacha. Abacha loot sat in the Swiss Bank account – 320 million dollars – for 22 years. We’ve been battling through the courts and we still have more recent cases.” She said
She also disclosed that the government of president Muhammadu Buhari was faced with two major challenges when he took over power, according to the minister, Buhari met an empty treasury when he came on board and the falling oil price was also a challenge.
She said that Nigeria tax laws were poor and weak but said a committee has been put in place to review and update the laws for efficiency.