The United States government has graciously repatriated $52.88 million linked to Nigeria’s former Petroleum Resources Minister, Diezani Alison-Madueke.
The US Ambassador to Nigeria, Mr. Richard M. Mills, Jr., led a delegation to execute the Asset Return Agreement at the Federal Ministry of Justice headquarters in Abuja on Friday.
Signing on behalf of the Nigerian government, Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, revealed that the funds originated from the forfeiture of Galactica assets associated with the former minister and her network of associates.
The AGF emphasized the significance of the agreement as a reflection of the shared determination of both nations to combat corruption.
He stated, “Measures have also been put in place to ensure that the repatriated funds are not only disbursed but also utilized transparently and accountably by the World Bank and IIJ, with periodic reports to be forwarded to Nigeria and the US on the implementation of the projects.
“This robust framework will guarantee that the funds are effectively used for the full benefit of the Nigerian people in line with UNCAC and the Global Forum on Asset Recovery (GFAR) principles.”
The repatriated funds will be deployed to support integrity, accountability, and governance in Nigeria, ensuring their impact benefits the nation’s citizens.
More details to follow…
