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Restitution: Nigeria's millions going home.

Some $500m decided by Switzerland to be "clearly of criminal origin" is to be transferred from Swiss banks to the Nigerian government. Nigerian finance minister, Ngozi Okonjo-Iweala, applauded the decision. "This is a positive development and it shows the Swiss keep their word," she said. Lawyers for the accused embezzlers expect the decision to be challenged in the 30 days allowed for appeal. The Swiss had already returned $200m of $700m thought stashed in the country. The funds will be used for improving delivery of health, education, water and other social services, the minister said.
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Title Annotation:Business Briefs
Publication:African Business
Article Type:Brief Article
Geographic Code:4EXSI
Date:Oct 1, 2004
Previous Article:Capital flight: 70% of Nigeria's private wealth is overseas.
Next Article:Resources: republic of Congo halts diamond exports.

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