France To Return $150m Abacha Loot – Presidency

The Presidency has said that France will reimburse the $150 million that General Sani Abacha, the former head of the Nigerian military, embezzled.

Speaking in Abuja, visiting French Minister for Europe and Foreign Affairs Catherine Colonna said she had told President Bola Tinubu about the intended restoration of the embezzled funds.

Colonna said; “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.”

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Ajuri Ngelale, the President’s Special Advisor on Media and Publicity, added that President Bola Tinubu praised the European nation for the choice.

Tinubu was quoted saying; “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.”

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