President Muhammadu Buhari is on a massive fund drive.
The President had stated his intention to free the economy from oil dependency.
In a bid to shore up the budget, the President has gone after those who looted the treasury, including dead ones.
This time around, the president has beamed his searchlight overseas and Switzerland is the destination.
Nigeria and Switzerland signed a Memorandum of Understanding (MoU) on the repatriation of $321 million dollars.
The money was stashed there by late ruler, General Sani Abacha.
The MoU also seeks to block accounts linked to stolen funds.
This is the second tranch of stolen money linked to the late Abacha that the nation is repatriating.
Switzerland had returned $722m dollars to Nigeria during former President Obasanjo’s regime in 2005.
The Swiss Ambassador to Nigeria, Eric Mayoraz stated that his country and Nigeria are both in the process of returning the looted fund.
The MoU, he argued, will help remove all legal bottlenecks in the fund repatriation.
The envoy spoke during the signing of MoU on Mutual Legal Assistance on criminal matters, between the Swiss government and the Federal Government in Abuja.
Mayoraz noted that “We are now in the process of repatriating $321m from the second batch of the Abacha loot.
“Our countries enjoy excellent relations.
“We cooperate as partners in many fields, particularly on the return of looted assets.
“We also corporate on migration, human rights, humanitarian assistance and many others.
“Today, we decide to take this cooperation forward.
“This will deepen our relationships in the field of judicial cooperation.
“By signing a Memorandum of Understanding in this important area, our two states further strengthen their ties of friendship and cooperation,” Mayoraz said.