BREAKING: US returns $52.88m linked to Diezani
By Jeffrey Agbo
The United States government has returned $52.88 million traced to former Petroleum Resources Minister Diezani Alison-Madueke.
US Ambassador to Nigeria, Richard Mills, Jr., led a delegation on Friday to execute the Assets Return Agreement at the Federal Ministry of Justice Headquarters in Abuja.
Attorney-General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi, signed the agreement on behalf of the Nigerian government. He revealed that the funds were recovered from the forfeiture of Galactica assets linked to Diezani and her associates.
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The AGF hailed the development as a reflection of the strong collaboration between Nigeria and the US in combating corruption. He also commended the US for its commitment to facilitating restitution and promoting integrity and accountability in governance.
“Measures have also been put in place to ensure that the repatriated funds are not only disbursed but also utilised 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,” said Fagbemi.
Fagbemi said the agreement provides that $50 million of the funds, which is about N77 billion, will be used to fund rural electrification project to increase the reliability and availability of renewable energy in Nigeria.
The minister added that the balance of $2.88 million will be disbursed as a grant by Nigeria to the International Institute for Justice (IIJ) to support the Rule of Law and Counter-Terrorism Project through counter-terrorism capacity building for criminal justice sector practitioners in East, West and North Africa.
“I would like to express our gratitude to the United States Government, for their steadfast support and cooperation in this endeavour,” Fagbemi said.
“Your commitment to justice and the rule of law has been instrumental in making this agreement a reality.
“However, I implore you to continue to demonstrate the usual cooperation and understanding in other pending cases of repatriation, so that the Agreements in relation thereto can be concluded as soon as possible, as Nigeria is in dire need of these refunds.”
Mills expressed the US government’s trust in the Nigerian authorities’ determination to apply the funds transparently.
