By DAYO ADESULU
The Federal Government of Nigeria has officially received $52.88 million in recovered assets linked to the former Minister of Petroleum, Diezani Alison-Madueke, from the United States. This was disclosed by Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi, during the formal signing ceremony of the asset return agreement in Abuja on Friday.
Details of the Agreement
- Asset Allocation:
- $50 million of the recovered funds will be allocated through the World Bank to finance rural electrification projects across Nigeria.
- The remaining $2 million will be directed to the International Institute of Justice for the expansion of Nigeria’s justice system and to enhance efforts in combating corruption.
Significance of the Asset Return
Fagbemi emphasized that the return of these assets is a key milestone in the ongoing cooperation between Nigeria and the United States to combat corruption and promote the rule of law. He also highlighted that this event marks a significant achievement in the administration of President Bola Tinubu in addressing corruption.
U.S. Ambassador’s Remarks
The U.S. Ambassador to Nigeria, Richard Mills, underscored the importance of proper monitoring and effective utilization of the recovered funds. He called on Nigeria’s Ministry of Justice to ensure that the assets are put to good use, benefiting the Nigerian people.
This recovery further solidifies the partnership between Nigeria and the U.S. in the global fight against corruption and highlights Nigeria’s commitment to transparency and accountability in managing recovered assets,
