Nigerian Minister Blocks $150M Abacha Loot Repatriation, Demands $30M Share

In a shocking turn of events, Atiku Bagudu, the current budget and planning minister under President Bola Tinubu in Nigeria, has reportedly taken steps to obstruct France’s efforts to repatriate $150 million linked to the infamous Sani Abacha loot. The Peoples Gazette has uncovered that Bagudu, known for his involvement in past financial scandals, is demanding a $30 million cut for himself, throwing a wrench into the process.

Bagudu, who has a history of working against Nigeria’s efforts to recover stolen funds since 1999, has allegedly informed French authorities about his demand for a substantial cut based on a questionable business arrangement with the late dictator Sani Abacha. The move has triggered a legal dispute in Paris, hindering France’s ability to release the funds, according to diplomatic sources.

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The former governor of Kebbi state, now serving in Tinubu’s cabinet, has refrained from commenting on the matter directly but previously asserted that his family members, not him, were involved in pursuing their interests related to Abacha’s loot. Nigeria has recovered nearly $4 billion of the estimated $8 billion loot, with some funds linked to developmental projects, while others were allegedly misappropriated through corrupt practices.

This recent move by Bagudu to obstruct the repatriation of $150 million, especially amid Nigeria’s economic challenges, poses a potential setback for Tinubu’s administration. The funds were expected to contribute to developmental projects aimed at alleviating the economic hardship faced by the Nigerian masses.

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The Gazette learned that the obstruction occurred after a meeting between Tinubu and a French diplomat in November, where discussions on the repatriation were initiated. French officials had initially expressed their intention to finalize the release during the recent United Nations Convention against Corruption Conference of States Parties summit in Atlanta.

France’s Minister for Europe and Foreign Affairs, Catherine Colonna, described the funds as assets stolen from the Nigerian people by General Sani Abacha and his family. Tinubu had expressed gratitude and emphasized the judicious application of the recovered loot for national development.

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Despite diplomatic sources indicating that Bagudu’s chances of completely blocking the $150 million are slim, his ability to delay the transfer could postpone the implementation of crucial developmental projects in Nigeria. Bagudu’s notorious history as a key player in Abacha’s money laundering operations and his evasion of accountability within the Nigerian legal system raises concerns about his influence and impact on national financial matters.

In conclusion, Atiku Bagudu’s attempt to interfere with the repatriation of the Abacha loot adds another layer of complexity to Nigeria’s ongoing battle against corruption and the recovery of stolen funds.

Source: The Peoples Gazette

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