Attorney-General Abubakar Malami and Swiss Federal Councilor Didier Burkhalter signed the agreement on March 8, 2016 in Abuja.
A coalition of Nigerian and Swiss civil society organizations had urged the two governments to come to a restitution agreement that would be transparent and benefit the social welfare of the Nigerian people.
The agreement, states that the World Bank will monitor the use of the restituted funds to ensure accountability.
Previously, the Executive Director of the Africa Network for Environment and Economic Justice (ANEEJ) David Ugolor told SarahReporters that the agreement is a victory for civil society organizations and demonstrates their importance in the fight against corruption and malfeasance.
“This agreement between the Swiss government and the Nigerian government is all the more significant because of the role civil society organizations played in encouraging these authorities to come to the discussion table,” he said.
Read the full agreement below:
