France set to return $150m Abacha loot

The French Government announced on Friday its decision to return $150 million of the late General Sani Abacha loot.

Since the death of Abacha, who was Nigeria’s military leader from 1993 to 1998, the country has recovered hundreds of millions of dollars heaped abroad.

The 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 noted that the stolen funds will be returned to the country in the form of grants, and discussions will soon be opened with the Nigerian government on where to invest the funds.

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 to development projects benefiting the population, according to the priorities of the Nigerian government.”

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