US Returns $52.88m Diezani Alison-Madueke’s Loot To Nigeria

In a historic deal, the Federal Government of Nigeria has been given $52.88 million in assets that were recovered from Diezani Alison-Madueke, the former Minister of Petroleum Resources.

Following joint anti-corr¥ption initiatives between the two countries, the money was returned from the United States.

Attorney-General of the Federation and Minister of Justice Lateef Fagbemi announced the event at the asset return agreement’s official signing ceremony on Friday in Abuja.

The World Bank would distribute $50 million of the recovered monies to support rural electrification projects throughout Nigeria, according to Fagbemi.

The International Institute of Justice will use the remaining $2 million to support anti-corr¥ption efforts and fortify the legal system.

According to Fagbemi, the event marked a significant turning point in the continued collaboration between the US and Nigeria to fight corruption and advance transparency.

Additionally, he praised the move as a noteworthy example of President Bola Tinubu’s resolve to combat corr¥ption and improve administration.

“This asset return is a tangible result of international cooperation to combat financial crimes and uphold the rule of law,” Fagbemi remarked during the ceremony, as reported by Channels Television.

Richard Mills, the US ambassador to Nigeria, also spoke at the event, stressing the value of openness in the use of the money that was recovered.

Mills called on the Ministry of Justice to make sure the resources are properly managed and utilized to provide the Nigerian people with real advantages.

The retrieved assets represent a new phase in Nigeria’s attempts to recoup money embezzled by state servants and reroute it to programs for development.

Both countries reaffirmed their dedication to continuing their joint efforts to combat corr¥ption and fortify institutional structures for accountability.