The Nigerian Government, in collaboration with the United States, has concluded arrangements to repatriate $52.9 million stolen by former Petroleum Resources Minister, Diezani Alison-Madueke.
According to a statement signed by the acting spokesperson of the Ministry of Foreign Affairs, Kimiebi Ebienfa, and made available to AIT, the funds were forfeited to the U.S. government as part of the Kleptocracy Asset Recovery Initiative led by the U.S. Department of Justice.
“This marks a significant milestone in the ongoing collaboration between Nigeria and the United States to combat corruption and recover misappropriated assets,” the statement read.
The U.S. Department of Justice’s Money Laundering and Asset Recovery Section, alongside the FBI’s International Corruption Unit and the IRS’s Criminal Investigation unit, successfully forfeited various high-value assets through court proceedings concluded in 2023. These assets include the luxury superyacht Galactica Star and prime real estate properties in California and New York.
Under the terms of the agreement, the recovered funds will be allocated to electrification projects across Nigeria and support international efforts to combat terrorism.
The U.S. government reiterated its commitment to fighting corruption and money laundering. Meanwhile, the Nigerian government emphasized its dedication to accountability and good governance, highlighting the critical role of international partnerships in addressing corruption.
The repatriation of these assets underscores the shared commitment of both nations to Nigeria’s development and further strengthens their long-standing partnership.
