The President of the Federal Republic of Nigeria, Bola Ahmed Tinubu met with the French Presidential Envoy as they set to return $150 million. Part of the looted funds during the Former Head of State, General Sanni Abacha’s millitary regime in Nigeria.
The process of returning these funds were followed up by a request submitted by the Federal Ministry of Justice. An agreement was made between the United States, France and Nigeria to return the money.
The minister for Europe and Foreign Affairs of France, Catherine Colonna, pointed out the details of the closed-door meeting with President Tinubu. She stated further that deliberations will be made to properly manage how the funds will be invested in the various sector of the Country’s Economy.
President Bola Ahmed Tinubu further expressed his appreciation to France for returning the looted money.
“Thank you for the good news on the return of Abacha’s loot. We appreciate your effective cooperation concerning the return of Nigeria’s money. It will be judiciously applied in attaining our development objectives.” He said.
In addition to the recovery of the looted fund, President Tinubu has signed a €100 million agreement between Nigeria and France. This agreement is to support the i-DICE Programme, a Federal Government Initiate with the intention to promote investment in the Information Communications Technology (ICT) and Creative Arts Industries.