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  • News - North Central - FCT
  • Updated: November 03, 2023

Presidency Says France Will Return $150m Abacha Loot

Presidency Says France Will Return $150m Abacha Loot

According to the Presidency, General Sani Abacha, the $150 million looted by Sani Abacha will be given back to Nigeria by France's government.  

President Bola Tinubu praised the European nation for the decision, according to a statement from Ajuri Ngelale, Special Advisor to the President on Media and Publicity.

Upon meeting France's Minister of Europe and Foreign Affairs, Catherine Colonna, the ecstatic President celebrated the improvement of bilateral ties between Nigeria and France, pointing out that this development came about as a result of his trip to Paris following his inauguration.

“Thank you for the good news on the return of Abacha loot. We appreciate your effective cooperation concerning the return of Nigeria’s money. It will be judiciously applied in attaining our development objectives,” Tinubu was quoted as saying.

The President praised the expanding collaboration between the two nations in areas of mutual interest, such as climate change, economic integration, education, and culture, while highlighting the need to strengthen cooperation on both the political and economic fronts.

In addition, Tinubu announced that Nigeria and France had inked a €100 million deal to fund the i-DICE programme, an effort by the Federal Government to encourage investment in the Creative Arts and Information and Communications Technology (ICT) sectors.

At a previous gathering at Tafawa Balewa House, the Federal Ministry of Foreign Affairs headquarters, the agreement was signed by the French Minister of Europe and Foreign Affairs and Dr Bosun Tijani, the Minister of Communications, Innovation, and Digital Technology.

In her remarks, the French minister expressed President Emmanuel Macron's goodwill and France's willingness to expand mutually beneficial collaboration with Nigeria across multiple sectors.

She then extended an official invitation to President Bola Tinubu to attend the upcoming Paris Peace Forum.

Speaking about the Abacha loot, the French Presidential Envoy stated that repatriation would occur after legal processes were completed.

"It was a long process, but we're glad it's over. Justice may be slow at times, but this is a very good achievement," she said.

Colonna also praised President Tinubu's management of the Economic Community of West African States (ECOWAS), saying, "We support your efforts at ECOWAS. We support you because we believe that constitutional order is a valuable asset for all countries and that democracy must be a reality."

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