In a historic move, France has announced its commitment to repatriate $150 million looted by former Nigerian military leader, General Sani Abacha. The announcement was met with praise from President Bola Tinubu, who commended France for their decision. The development comes as a significant step in the ongoing battle against illicit financial flows and corruption.
The highly-anticipated decision was revealed during a meeting between President Tinubu and the Minister of Europe and Foreign Affairs of France, Catherine Colonna. President Tinubu expressed his gratitude for the return of the Abacha loot, acknowledging the effective cooperation between the two countries in this matter. He assured that the repatriated funds would be judiciously applied to advance Nigeria's development objectives.
The bilateral relations between Nigeria and France have been strengthened, following President Tinubu's visit to Paris after his inauguration. The President highlighted the importance of reinforcing collaboration in both political and economic spheres, and he welcomed the growing cooperation in areas of shared interest, including climate change, economic integration, education, and culture.
Furthermore, a significant development emerged during the meeting, as an agreement worth €100 million was signed between Nigeria and France to support the i-DICE program. This Federal Government initiative aims to promote investment in Information and Communications Technology (ICT) 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.
In her remarks, the French Minister conveyed President Emmanuel Macron's goodwill and expressed France's readiness to expand mutually beneficial collaboration with Nigeria across multiple sectors. She also extended a formal invitation to President Bola Tinubu to attend the forthcoming Paris Peace Forum, further strengthening the diplomatic ties between the two nations.
Regarding the Abacha loot, the French Presidential Envoy emphasized that the repatriation had followed the completion of legal processes. She acknowledged that the process was lengthy, but the successful conclusion was a significant achievement in the pursuit of justice. Catherine Colonna also lauded President Tinubu's leadership in handling the affairs of the Economic Community of West African States (ECOWAS), expressing support for the organization's efforts and emphasizing the importance of constitutional order and democracy in the region.
France's decision to return the $150 million Abacha loot reflects a commitment to international cooperation in the fight against corruption and illicit financial flows. This development is expected to have far-reaching implications and sets a precedent for similar asset recovery efforts globally.
The highly-anticipated decision was revealed during a meeting between President Tinubu and the Minister of Europe and Foreign Affairs of France, Catherine Colonna. President Tinubu expressed his gratitude for the return of the Abacha loot, acknowledging the effective cooperation between the two countries in this matter. He assured that the repatriated funds would be judiciously applied to advance Nigeria's development objectives.
The bilateral relations between Nigeria and France have been strengthened, following President Tinubu's visit to Paris after his inauguration. The President highlighted the importance of reinforcing collaboration in both political and economic spheres, and he welcomed the growing cooperation in areas of shared interest, including climate change, economic integration, education, and culture.
Furthermore, a significant development emerged during the meeting, as an agreement worth €100 million was signed between Nigeria and France to support the i-DICE program. This Federal Government initiative aims to promote investment in Information and Communications Technology (ICT) 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.
In her remarks, the French Minister conveyed President Emmanuel Macron's goodwill and expressed France's readiness to expand mutually beneficial collaboration with Nigeria across multiple sectors. She also extended a formal invitation to President Bola Tinubu to attend the forthcoming Paris Peace Forum, further strengthening the diplomatic ties between the two nations.
Regarding the Abacha loot, the French Presidential Envoy emphasized that the repatriation had followed the completion of legal processes. She acknowledged that the process was lengthy, but the successful conclusion was a significant achievement in the pursuit of justice. Catherine Colonna also lauded President Tinubu's leadership in handling the affairs of the Economic Community of West African States (ECOWAS), expressing support for the organization's efforts and emphasizing the importance of constitutional order and democracy in the region.
France's decision to return the $150 million Abacha loot reflects a commitment to international cooperation in the fight against corruption and illicit financial flows. This development is expected to have far-reaching implications and sets a precedent for similar asset recovery efforts globally.
