Nigeria Receives $52.88 Million in Recovered Assets from Ex-Petroleum Minister Diezani Alison-Madueke
The Federal Government of Nigeria has successfully recovered $52.88 million in assets from former Minister to Petroleum Diezani Alison-Madueke. This significant handover took place on Friday, January 10, during an official ceremony in Abuja, where the United States formally transferred the funds.
Attorney General and Minister of Justice Lateef Fagbemi announced that $50 million of the recovered amount will be allocated through the World Bank to support rural electrification projects across Nigeria. The remaining $2 million is designated for the International Institute of Justice, an initiative aimed at strengthening Nigeria’s justice system and combating corruption.
“This asset return represents another important milestone in the ongoing partnership between Nigeria and the United States in the fight against corruption and the promotion of the rule of law,” Fagbemi said. He laid emphasize that this development aligns with President Bola Tinubu’s commitment to transparency and accountability in governance.
The agreement, signed in Abuja, highlights the critical role of international cooperation in recovering stolen assets. US Ambassador to Nigeria Richard Mills also stressed the importance of ensuring that the funds are utilized effectively for the benefit of ordinary Nigerians. “It is crucial that these assets are monitored and deployed for the public good,” Mills remarked.
These recovered funds are part of a broader global initiative aimed at repatriating assets linked to corruption in Nigeria. The collaboration between Nigeria and the US marks a significant step forward in promoting accountability and driving development. The Nigerian government plans to use these funds to address critical infrastructure gaps.
