The United States government has returned $52.88 million traced to former Nigerian Petroleum Resources Minister, Diezani Alison-Madueke. The repatriation was formalized through an Assets Return Agreement executed at the Federal Ministry of Justice in Abuja on Friday.
The US Ambassador to Nigeria, Mr. Richard M. Mills Jr., led the delegation to the ceremony. Representing 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 linked to the ex-minister and her associates.
Strengthening Anti-Corruption Efforts
Speaking at the event, the AGF emphasized the significance of the move as a testament to the shared commitment of Nigeria and the US to combat corruption. He noted that the repatriated funds would be managed transparently and utilized for the benefit of Nigerians.
The World Bank and the International Institute for Justice (IIJ) will oversee the disbursement and utilization of the funds, ensuring accountability through periodic reports to both the Nigerian and US governments.
“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,” Fagbemi stated.
The development underscores international cooperation in promoting integrity and accountability in governance.
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