Showing posts with label Loot To Nigeria. Show all posts
Showing posts with label Loot To Nigeria. Show all posts

Saturday, 4 November 2023

France To Return Another $150m Abacha Loot to Nigeria

 

The French Government on Friday revealed its intention to return another $150 million stolen by former Head of State,General Sani Abacha

The late General Sani Abacha ruled Nigeria from November 17, 1993 to June 8, 1998.

The French Minister of Europe and Foreign Affairs, Catherine Colonna, made this known when she visited President Bola Tinubu on Friday at the Presidential Villa in Abuja.

Tinubu, who expressed his appreciation for the move to return the $150 million stolen from Nigeria by Abacha, also acknowledged the signing of a €100 million agreement between Nigeria and France to support the i-DICE programme, a Federal Government initiative to promote investment in Information and Communications Technology and Creative Arts Industries.


The agreement was signed by Dr. Bosun Tijani, the Minister of Communications, Innovation and Digital Technology, and the French Minister of Europe and Foreign Affairs, at an earlier event at Tafawa Balewa House, the headquarters of the Federal Ministry of Foreign Affairs.

President Tinubu commended the strengthening of bilateral relations between Nigeria and France, noting that this progress followed his visit to Paris after his inauguration.

He told Colonna: “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.”

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

The French Minister of Europe and Foreign Affairs conveyed the goodwill of President Emmanuel Macron and expressed the readiness of France to expand mutually beneficial collaboration with Nigeria across multiple sectors.

She proceeded to extend a formal invitation to President Tinubu to attend the forthcoming Paris Peace Forum.

Speaking on the Abacha loot, the French Presidential Envoy said 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.




Wednesday, 24 August 2022

US Return Another $23 Million Of Abacha Loot To Nigeria

 

Nigeria and the United States government have reached an agreement on the return of over $23 million of the Abacha loot.

 The agreement signing ceremony was held in the office of the Minister of Justice and Attorney General of the Federation, Mr. Abubakar Malami on Tuesday, August 23.

Mr. Malami signed on behalf of the Nigerian government and the U.S Ambassador to Nigeria, Mary Beth Leonard, signed on the behalf of the U.S government.

According to Mr Malami, the fund when returned will be invested in three ongoing projects by the Federal Government, including the ongoing Abuja-Kaduna road and the 2nd Niger Bridge.

Nigeria has in the past recovered several other tranches of the Abacha loot.

In 2006, about $723 million in Abacha loot was returned to Nigeria from Switzerland.

In 2020, the US and Jersey also agreed to return over $308 million in confiscated funds to Nigeria.