The $52.88 million that was linked to Diezani Alison-Madueke, the former Nigerian Minister of Petroleum Resources, has been returned to Nigeria by the United States of America (U.S.).
BrandSpur national news stories report that at the Federal Ministry of Justice Headquarters in Abuja on Friday, a delegation led by US Ambassador to Nigeria Richard M. Mills, Jr. signed the Assets Return Agreement.
Prince Lateef Fagbemi, SAN, the Attorney-General of the Federation and Minister of Justice, signed the agreement on behalf of the Federal Government and revealed that the $52.88 million came from the seizure of Galactica assets connected to the former Minister and her friends. According to the AGF, the development not only demonstrated both countries’ unshakeable commitment to combating corruption, but it also demonstrated the United States’ commitment to facilitating restitution and promoting accountability and integrity in governance.
Continuing, he revealed: “Measures have also been put in place to ensure that the repatriated funds are not only disbursed but also utilized transparently and accountably by the World Bank and IIJ, with periodic reports to be forwarded to Nigeria and the US on the implementation of the projects.
“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,” he added.
