The Federal Government of Nigeria, successfully received $52.88 million in recovered assets linked to former Petroleum Minister Diezani Alison-Madueke.
The funds were repatriated from the United States.
This development was announced by the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, during a formal signing ceremony for the asset recovery agreement between Nigeria and the United States, held in Abuja on Friday.
In his remarks, Fagbemi explained the allocation of the recovered funds, stating, “$50 million of the recovered assets will be deployed through the World Bank to support the development of the rural electrification project, while the remaining $2 million will be directed to the International Institute of Justice to enhance the justice system and bolster anti-corruption efforts.”
Highlighting the significance of the recovery, Fagbemi added, “This asset return marks a milestone in the ongoing collaboration between Nigeria and the United States in combating corruption and upholding the rule of law.”
He further emphasized that the event aligns with President Bola Tinubu’s commitment to tackling corruption and promoting good governance.
Speaking at the ceremony, United States Ambassador to Nigeria, Richard Mills, urged the Ministry of Justice to ensure effective monitoring and utilization of the recovered assets for the benefit of Nigerians.
The successful recovery and allocation of these funds signal a reinforced partnership between the two nations in the fight against corruption and the promotion of accountability.
