BLESSING OMALE, Abuja
The United States government has repatriated $52.88 million linked to Nigeria’s former Petroleum Minister, Diezani Alison-Madueke.
The funds traced to the forfeiture of Galactica assets associated with the ex-minister and her associates, were handed over in a ceremony on Friday.
The U.S. Ambassador to Nigeria, Richard Mills Jr., led the delegation that finalized the Assets Return Agreement, while Nigeria’s Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, signed the agreement on behalf of the Federal Government.
Speaking at the event, Fagbemi described the funds’ return as a testament to President Bola Ahmed Tinubu’s commitment to eliminating corruption and ensuring that public resources are channeled toward socio-economic development.
He noted, “This event is not only a testament to the unwavering commitment of our nations to fight corruption but also signifies the commitment of the United States of America to facilitating restitution and supporting integrity and accountability in governance.”
The agreement ensures that $50 million of the returned funds will be used to support Nigeria’s Rural Electrification Project, aimed at improving renewable energy availability and reliability.
The remaining $2.88 million will fund the “Rule of Law and Counter-Terrorism Project,” a capacity-building initiative for criminal justice practitioners in Africa, managed by the International Institute for Justice (IIJ).
Fagbemi emphasized the importance of international cooperation in combating corruption, highlighting Nigeria’s adherence to the United Nations Convention against Corruption (UNCAC) and the Proceeds of Crime (Recovery and Management) Act (POCA).
He added that measures are in place to ensure the transparent and accountable utilization of the funds, with oversight provided by the World Bank and the IIJ.
In his remarks, Ambassador Mills underscored the need for effective monitoring and use of the recovered assets to benefit Nigerians, reinforcing the U.S. government’s support for Nigeria’s anti-corruption drive.
The signing ceremony reflects the growing partnership between Nigeria and the U.S. in tackling corruption, recovering stolen assets, and fostering socio-economic growth through global cooperation.
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