The United States government has repatriated $52.88 million linked to Nigeria’s former Petroleum Resources Minister, Diezani Alison-Madueke, to Nigeria.
The US Ambassador to Nigeria, Richard M. Mills, Jr., led a delegation to sign the Assets Return Agreement with the Federal Government at the Federal Ministry of Justice Headquarters in Abuja on Friday.
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The Attorney-General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi, SAN, signed the agreement on behalf of Nigeria, revealing that the funds were derived from the forfeiture of Galactica assets associated with Alison-Madueke and her associates.
Speaking at the event, Fagbemi emphasized the importance of the agreement as a reflection of the mutual commitment of both nations to combating corruption.
“This development is a testament to the unwavering commitment of both nations to fight corruption. It also underscores the USA’s dedication to ensuring restitution and promoting integrity and accountability in governance,” Fagbemi said.
He further assured that measures had been established to ensure the repatriated funds are transparently managed.
“Measures have 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,” the AGF stated.
According to him, the framework aligns with the United Nations Convention Against Corruption (UNCAC) and the Global Forum on Asset Recovery (GFAR) principles to guarantee that the funds are used effectively for the benefit of Nigerians.
