In a significant international controversy, Atiku Bagudu, the current budget and planning minister in President Bola Tinubu’s cabinet, is obstructing France’s efforts to repatriate $150 million linked to the notorious Sani Abacha loot.
According to reports reveal that Bagudu, previously implicated in plundering Nigeria’s treasury, is demanding a $30 million share in the recovered funds, complicating the nation’s financial woes.
Bagudu, who has a history of working against Nigeria’s interests in the recovery of stolen funds, has triggered legal action in Paris, tying France’s hands in the repatriation process.
Despite being a member of Tinubu’s cabinet, Bagudu has informed French authorities about his interest in the loot, insisting on his cut based on a business arrangement with the late Abacha.
The move comes at a time when Nigeria is facing economic challenges, with the government recently abolishing federal subsidies on petrol.
Bagudu’s actions could hinder Tinubu’s efforts to address the nation’s hardships and implement developmental projects funded by the repatriated loot.
While diplomatic sources suggest that Bagudu’s chances of completely blocking the $150 million are slim, his ability to delay the transfer poses a threat to the timely implementation of crucial developmental projects.
The ongoing dispute further underscores Bagudu’s controversial role as a key figure in Abacha’s money laundering operation, which siphoned off billions from Nigeria in the mid to late ’90s.
Despite facing allegations of embezzlement, money laundering, and criminal misappropriation, Bagudu has not been prosecuted within the Nigerian legal system. His ascent to political positions, including senator and governor, has raised questions about accountability and the protection of ill-gotten wealth.
In the midst of this controversy, President Tinubu, who had anticipated the repatriation of the Abacha loot following discussions with French officials, now faces challenges in realizing his development goals.
The $150 million dispute adds another layer to Nigeria’s ongoing efforts to recover stolen funds and combat corruption on both domestic and international fronts.
