Atiku Bagudu, Nigeria's Minister of Budget and Planning under President Bola Tinubu, has reportedly taken steps to obstruct France's efforts to repatriate $150 million linked to the infamous Sani Abacha loot. The twist? Bagudu demands a substantial $30 million share from the recovered funds, sparking outrage and diplomatic turmoil.
Bagudu, notorious for his involvement in siphoning Nigerian wealth during Abacha's regime, has a long history of hindering previous attempts to recover the substantial loot, estimated to exceed $8 billion. This marks the first time he has operated against a cabinet to which he belongs.
According to diplomatic sources, Bagudu informed French authorities of his demand for a $30 million cut, citing a unique business arrangement with the late dictator Sani Abacha. This move has tied France's hands legally, with Bagudu initiating legal action in Paris to further complicate the matter.
While Bagudu denies any connection between his ministerial role and the controversial move, his actions threaten to undermine President Tinubu's efforts to address economic challenges and implement developmental projects. The $150 million, intended for repatriation, faces delays due to Bagudu's legal maneuvering.
The diplomatic tug-of-war involves France's Minister for Europe and Foreign Affairs, Catherine Colonna, who characterized the funds as stolen from the Nigerian people by General Sani Abacha and his family. France aims to commit the repatriated funds to development projects in Nigeria, a move supported by President Tinubu.
Despite the controversy, Bagudu remains adamant about his $30 million cut, raising questions about his influence and the potential impact on the country's developmental goals. His history as a mastermind behind money laundering operations during Abacha's rule adds complexity to the ongoing dispute.
As Nigeria grapples with the fallout, the international community watches closely, and President Tinubu faces challenges in reconciling his commitment to economic recovery with the actions of a key minister. The saga continues, leaving the fate of the repatriated funds and Nigeria's economic path uncertain.
