Tinubu Reacts As France Set To Return $150M Abacha Loot

Tinubu Reacts As France Set To Return $150M Abacha Loot

  • France has promised to return $150 million looted by former Nigerian military leader General Sani Abacha.
  • This development was confirmed on Friday, November 3, when President Bola Tinubu received the envoy of President Emmanuel Macron at the presidential villa.
  • Delighted by the news, President Tinubu promised that the federal government would utilise the money judiciously.

Legit.ng journalist Segun Adeyemi has over 9 years of experience covering political events, civil society, courts and metro

State House, Abuja - The Presidency announced on Friday, November 3, that France will return $150 million stolen by former Nigerian military leader General Sani Abacha.

President Bola Tinubu expressed gratitude for France's decision during a meeting with France's Minister of Europe and Foreign Affairs, Catherine Colonna.

Tinubu, Abacha loot
President Tinubu told the envoy of the French President that the recovered Abacha loot would be judiciously channelled to developmental projects. Photo Credit: NESG
Source: Twitter

A statement by the special adviser to the President on media and publicity, Ajuri Ngelale, said President Tinubu praised the improving relations between Nigeria and France, highlighting the progress made since his visit to Paris after taking office.

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He emphasised the importance of enhancing cooperation in politics and the economy and welcomed their collaboration on climate change, economic integration, education, and culture.

He said:

“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.”

Reacting to Tinubu's comment, Dr Abubakar Sani, a public affairs analyst, said he doubts if the masses would benefit from the latest recovery made from Abacha's loot.

He told Legit.ng that previous recoveries had not been accounted for as he urged for a probe on the recovered loot.

Dr Sani said:

"I don't think this will touch the life of the ordinary man on the street. We have heard about such inflows from the so-called Abacha loot in the past, but nothing has changed.

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"Why? Because of the corruption and insincerity of those entrusted to manage these resources. I think it is high time we begin to interrogate how this so-called Abacha loot is being utilised.
"If our leaders can show some transparency and accountability, this money can go a long way in alleviating the sufferings of a large chunk of our population."

Nigeria, France signs €100m pact to boost ICT, creative art industry

Meanwhile, Tinubu acknowledged the signing of a €100 million agreement to support Nigeria's i-DICE program, which promotes investment in Information and Communications Technology (ICT) and Creative Arts Industries.

The agreement was signed by the Nigerian Minister of Communications, Innovation, and Digital Technology, Dr. 'Bosun Tijani, and the French Minister of Europe and Foreign Affairs.

The French minister conveyed President Emmanuel Macron's goodwill and expressed France's willingness to expand cooperation with Nigeria in various sectors.

She also extended a formal invitation to President Bola Tinubu to attend the upcoming Paris Peace Forum.

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Regarding the Abacha loot, the French Presidential Envoy explained that the repatriation followed the completion of legal processes.

She said:

“It was a long process, but we are glad that it was concluded. Sometimes, justice may be slow, but this is a very good achievement.”

“He had bad PR”: Financial analyst lists Abacha’s “achievements”, Nigerians react

In another report, netizens slammed a financial analyst who gave kudos to the administration of the late Nigerian dictator, General Sani Abacha.

In a lengthy social media post, the financial analyst revealed how the economy of Nigeria thrived compared to what it is today.

The analyst stated that the late military junta had an ineffective public relations team to project his significant achievements.

Source: Legit.ng

Segun Adeyemi avatar

Segun Adeyemi (Current Affairs and Politics Editor) Segun Adeyemi is a journalist with over 9 years of experience as an active field reporter, editor, and editorial manager. He has had stints with Daily Trust newspaper, Daily Nigerian, and News Digest. He currently works as an editor for Legit.ng's current affairs and politics desk. He holds a degree in Mass Communication (Adekunle Ajasin University). He is a certified digital reporter by Reuters, AFP and the co-convener of the annual campus journalism awards. Email: segun.adeyemi@corp.legit.ng.

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