The United States government has successfully repatriated $52.88 million linked to former Nigerian Petroleum Minister Diezani Alison-Madueke, following extensive investigations into her financial activities.
The funds were part of the forfeited assets of Galactica, an entity associated with Madueke and her affiliates.
The formal handover took place on Friday at the Federal Ministry of Justice Headquarters in Abuja, where the US Ambassador to Nigeria, Richard M. Mills, Jr., led a delegation to sign the Assets Return Agreement.
Representing the Nigerian government, Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, affirmed that the returned sum was the result of the forfeiture of assets linked to Madueke.
In his remarks, Fagbemi emphasised that the repatriation underscored the strong commitment of both Nigeria and the United States to combat corruption.
He also highlighted that the gesture signaled the USA’s continued support for fostering integrity, transparency, and accountability in governance.
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The recovery of the funds traced to Diezani, marks a significant step in Nigeria’s ongoing efforts to retrieve illicitly acquired assets and promote good governance, further strengthening ties between the two nations in the fight against corruption.
“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 AGF added.
