France to Return $150 Million Abacha Plunder to Nigeria

06 Nov, 2023

France to Return $150 Million Abacha Plunder to Nigeria

Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, announced a significant development after a meeting between President Bola Tinubu and Catherine Colonna, the French Minister of Europe and Foreign Affairs. The fruitful discussion centered on the return of the Abacha loot to Nigeria.

Nigeria has successfully repatriated significant amounts of funds stashed abroad since the passing of General Sani Abacha, who served as the country's military leader from 1993 to 1998. President Bola Tinubu expressed his gratitude to France for facilitating the repatriation of funds embezzled by the former Head of State. He sent out the following message: "We are grateful for the good news regarding the return of the Abacha loot. We value your effective collaboration in returning Nigeria's funds. These funds will be prudently utilized to achieve our development goals."

In addition to recovering the Abacha loot, President Tinubu acknowledged a €100 million agreement between Nigeria and France to support the i-DICE program. This initiative is geared towards fostering investment in the ICT (Information and Communication Technology) and Creative Arts Industries.

President Tinubu emphasized the importance of enhancing cooperation between Nigeria and France in both political and economic domains. He commended the growing collaboration between the two countries, particularly in areas such as climate change, economic integration, education, and culture.

Catherine Colonna, the French Minister of Europe and Foreign Affairs, conveyed President Emmanuel Macron's goodwill and expressed France's eagerness to strengthen mutually beneficial cooperation with Nigeria in various sectors. She extended a formal invitation to President Bola Tinubu to participate in the upcoming Paris Peace Forum.

Regarding the Abacha loot, the French Presidential Envoy explained that the repatriation was the culmination of the necessary legal procedures.She expressed, "The journey was lengthy, yet we are pleased it has reached its conclusion. Occasionally, the wheels of justice may turn slowly, but this marks a significant accomplishment."

In a similar vein, the recovery of funds looted by Abacha and his associates has been ongoing. In May 2022, the United Kingdom repatriated $23 million taken out of Nigeria illegally, and three months later, the United States returned $20 million to Nigeria, marking progress in the efforts to retrieve embezzled assets.