France to return $150m Abacha loot – Presidency

The Presidency has announced that France will return $150 million looted by former Nigerian military leader, General Sani Abacha.

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

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.”

Special Adviser to the President on Media and Publicity, Ajuri Ngelale, also said President Bola Tinubu commended the European country for the decision.

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.”

While also emphasising the need to reinforce collaboration on both political and economic fronts, the President welcomed the growing cooperation between the two countries in areas of shared interest, such as climate change, economic integration, education, and culture.