The French authorities have resolved to return $150 million General Sani Abacha loot to Nigeria, that is about N135Bn.
Abacha was Nigeria military leader between 1993 to 1998 and he was generally perceived by many to have looted the country treasury mindlessly.
And since his death in 1998, the country has recovered millions of dollars allegedly stacked away 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.
She 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.”
She disclosed that her country has invested over €10 billion in Nigeria in the last ten years with over 100 French companies doing business in Nigeria, creating over 10,000 jobs.
