The Federal Government of Nigeria has successfully recovered $52.88 million in assets linked to former Minister of Petroleum Resources, Diezani Alison-Madueke, from the United States of America.
The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, disclosed this during a formal signing ceremony in Abuja on Friday.
According to Channels TV, Fagbemi revealed that the bulk of the recovered funds, amounting to $50 million, would be deployed through the World Bank to support rural electrification projects across Nigeria.
The remaining $2 million will be directed to the International Institute of Justice to enhance the country’s justice system and bolster anti-corruption efforts.
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Speaking at the event, the Minister highlighted the significance of the asset return, describing it as a milestone in the ongoing collaboration between Nigeria and the United States to combat corruption and uphold the rule of law.
He further emphasized that the move aligns with President Bola Tinubu’s commitment to tackling corruption and promoting accountability in governance.
“This event demonstrates a shared commitment between our nations to combat corruption and ensure that recovered assets are used for the benefit of Nigerians,” Fagbemi stated.
The United States Ambassador to Nigeria, Richard Mills, also addressed the gathering, emphasizing the importance of transparency and effective monitoring in the use of the recovered assets.
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He called on the Ministry of Justice to ensure that the funds are managed appropriately and achieve their intended purpose of improving the lives of Nigerians.
This recovery marks another step in Nigeria’s ongoing efforts to reclaim stolen public funds and utilize them for national development.
The collaboration with the United States is expected to set a precedent for future asset recovery initiatives and strengthen the country’s anti-corruption campaign.