The United States government has repatriated $52.88m linked to former Nigerian Petroleum Resources Minister Diezani Alison-Madueke. The funds were recovered from the forfeiture of Galactica assets connected to Alison-Madueke and her associates.
The Asset Return Agreement was signed at the Federal Ministry of Justice headquarters in Abuja, with US Ambassador Richard Mills Jnr. leading the delegation. Attorney-General Lateef Fagbemi signed on behalf of the Nigerian government, noting that the move demonstrates President Bola Tinubu’s commitment to fighting corruption.
The returned funds will be utilized for developmental projects, with $50m allocated to the Rural Electrification Project through the World Bank. An additional $2.88m will be disbursed as a grant to the International Institute for Justice to support counter-terrorism initiatives.
Measures have been put in place to ensure transparent and accountable use of the repatriated funds, with periodic reports to be submitted to both Nigeria and the US.
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