The Federal Government has received $52.88 million in recovered assets linked to a former Minister of Petroleum, Diezani Alison-Madueke, from the United States of America.
Nigeria and the United States signed an agreement on Friday to repatriate about $52.88 million in assets forfeited by the former petroleum minister and her associates.
The agreement opens the way for the first repatriation to Nigeria of assets outside the West African country linked to Alison-Madueke.
The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, disclosed this during the formal signing ceremony of the asset agreement between Nigeria and the United States in Abuja, on Friday.
Fagbemi said the agreement with the U.S. enables “the repatriation of approximately $52.88 million arising from the forfeiture of the Galactica assets, linked to the former Petroleum Resources Minister, Diezani Alison-Madueke and her associates.
He explained that $50 million of the recovered assets would be deployed through the World Bank for the development of rural electrification projects, while the remaining $2 million would be used by the International Institute of Justice to expand the justice system and combat corruption.
Fagbemi noted that the asset return marks a milestone in the ongoing collaboration between Nigeria and the USA to combat corruption and uphold the rule of law.
He also described the event as a significant step by President Bola Tinubu in addressing corruption.
The United States Ambassador to Nigeria, Richard Mills, in his remarks, called for effective monitoring and utilisation of the recovered assets by the Ministry of Justice to ensure they benefit Nigerians.
The agreement follows a 2017 civil complaint filed by the U.S. Justice Department aimed at recovering about $144 million in assets allegedly obtained through bribes to the former minister.
The lawsuit alleged that two Nigerian businessmen conspired with others to pay bribes to Alison-Madueke, who oversaw the country’s state-owned oil firm NNPC Ltd.
Alison-Madueke, whose whereabouts is unclear but was last known to be in Britain, has previously denied corruption charges against her.
Fagbemi said: “The Asset Return Agreement being executed today also ensures that the returned assets are applied directly to developmental projects.
“I would like to express our gratitude to the United States Government, for their steadfast support and cooperation in this endeavour.
“Your commitment to justice and the rule of law has been instrumental in making this agreement a reality.
“However, I implore you to continue to demonstrate the usual cooperation and understanding in other pending cases of repatriation, so that the Agreements in relation thereto can be concluded as soon as possible, as Nigeria is in dire need of these refunds.
