The government of the United States of America has repatriated no less than $52.88 million linked to a former Petroleum Resources Minister, Diezani Alison-Madueke.
The funds were said to be from the forfeiture of the Galactica assets linked to Alison-Madueke and her associates, according to The PUNCH.
U.S. Ambassador to Nigeria, Mr. Richard Mills Jnr., led a delegation that signed the Asset Return Agreement at the Federal Ministry of Justice headquarters in Abuja, on Friday.
The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, who signed the return agreement on behalf of the Federal Government, noted that the development was a significant affirmation of President Bola Tinubu’s resolve to build a Nigeria free from the shackles of corruption.
Fagbemi added that while the event signified the culmination of efforts by stakeholders to return forfeited assets to Nigeria, it was also a testament to ensure available resources were devoted to the socio-economic development of the nation.
“Today, the execution of the Asset Return Agreement between the Federal Republic of Nigeria and the United States of America concretises the repatriation of approximately USD 52.88 million arising from the forfeiture of the Galactica assets, linked to the former Petroleum Resources Minister Diezani Alison-Madueke and her associates.
“The Asset Return Agreement being executed today also ensures that the returned assets are applied directly to developmental projects. As agreed, USD 50m of the repatriated funds will be utilised through the World Bank, to partly fund the Rural Electrification Project to increase the reliability and availability of renewable energy in Nigeria, while the balance of USD 2.88m will be disbursed as a grant by Nigeria to the International Institute for Justice to support the Rule of Law and Counter-Terrorism Project, through counter-terrorism capacity building for Criminal Justice Sector Practitioners in East, West, and North Africa Africa,” Fagbemi said.
