…….Historic Transfer Takes Place on August 14, 2008
Nigeria officially handed over the oil-rich Bakassi Peninsula to Cameroon on August 14, 2008, complying with a 2002 International Court of Justice (ICJ) ruling.
The transfer, originally agreed upon two years earlier, had been delayed due to violence and political disputes, resulting in over 50 deaths in border clashes.
Due to heightened security risks, the planned flag-exchange ceremony in a town in Bakassi was relocated to Calabar. Armed groups were present in the region, posing serious security concerns.
After the handover, Cameroon faced the challenge of stabilizing the region before exploiting its offshore oil reserves.
Nigeria and Cameroon agreed to cooperate on oil exploration, helping Cameroon’s declining oil production at the time.
The settlement process began during the tenure of former President Olusegun Obasanjo, but the actual handover was completed by then-President Musa Yar’Adua’s government in 2008, following the decision to obey the court judgment.
