The Government of the United States of America, USA, has repatriated the sum of $52. 88 million it said was traced to former Petroleum Resources Minister Diezani Alison-Madueke.
A delegation to the Federal Ministry of Justice, led by the US Ambassador to Nigeria, Mr. Richard M. Mills, Jr, facilitated the Assets Return Agreement on Friday.
The Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN signed the agreement on behalf of the Federal Government of Nigeria.
He disclosed that the $52. 88m came from the forfeiture of Galactica assets, linked to the ex-Minister and her associates.
Fagbemi stated that the development was not only an indication of the unwavering commitment of both nations to fight corruption but also signifies the commitment of the US government to facilitate restitution and support integrity and accountability in governance.
“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,”
More updates later.
