National Telescope national telescope newspaper
The Federal Government is set to receive fresh N118.2bn ($150m) looted by late General Sani Abacha.
Abacha was Nigeria’s military leader between 1993 to 1998. Since his death, the country has recovered millions of dollars stacked 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 Ahmed 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.
According to her: ” 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 said France has invested over €10 billion in Nigeria in the last ten years with over 100 French companies doing business in the country, creating over 10,000 jobs.
Nigeria in the past have received the Abacha loot recovered by the UK, United States of America (USA), Switzerland and other countries.
During the General Abdulsalami Abubakar era in 1999, $750million was recovered while $1.2 billion was recovered in 2002; $149 million repatriated from Jersey Island, UK in 2003; $500 million recovered in 2004 from Switzerland, and another $458 million recovered in 2005 from Switzerland, all under former President Olusegun Obasanjo’s administration.
Former President Goodluck Jonathan’s administration also saw the recovery of $1 billion in 2012 and $380 million in 2015 respectively, both tranches from Switzerland.
Similarly, Liechtenstein and the United States repatriated $227 million and $48 million respectively in 2014 during Jonathan’s administration.
In 2020, during the administration of President Muhammadu Buhari, $311 million Abacha loot was repatriated to Nigeria from the United States and the Bailiwick of Jersey.
The Buhari government also received N9.69bn ($23m) of looted funds from the US in August 2022.
(intelregion news)
