Wednesday, 24 April, 2024

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France Agrees To Repatriate $150m Abacha Loot


The French authorities have agreed to return $150 million General Sani Abacha loot.

Abacha was Nigeria military leader between 1993 to 1998.

Since his death, the country has recovered millions of dollars stacked abroad.

The visiting France Minister for Europe and Foreign Affairs, Ms. Catherine Colonna, who disclosed this to Diplomatic Correspondents in Abuja, said she has informed President Bola Tinubu about the planned return of the seized fund.

According to her, the stolen fund will be returned to the country in form of grant.

She noted that discussion will soon be opened with the Nigerian government on the areas to invest the fund.

According to her: ” I also informed President Tinubu that in response to the request submitted by the Nigerian Federal Ministry of Justice, and in agreement with the US Administration, France will return to Nigeria the assets stolen from the Nigerian people by General Sani Abacha and his family, that have been frozen in France since 2021.

“We will start discussions with the Nigerian administration in order to allocate these 150 million US dollars to development projects benefiting the population, according to the priorities of the Nigerian government.”

She said France has invested over €10 billion in Nigeria in the last ten years with over 100 French companies doing business in the country, creating over 10,000 jobs.

Credit: The Nigeria Lawyer

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