The United States has repatriated $52.88 million traced to former Nigerian Petroleum Resources Minister Diezani Madueke. The formal handover was executed on Friday at the Federal Ministry of Justice headquarters in Abuja, with US Ambassador to Nigeria, Mr. Richard M. Mills, Jr., leading the delegation.
The Attorney-General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi, SAN, signed the Assets Return Agreement on behalf of the Federal Government. He explained that the funds were forfeited through the recovery of Galactica assets tied to Madueke and her associates.
Speaking at the ceremony, the AGF emphasized that the repatriation underscores the shared commitment of Nigeria and the US to combat corruption and ensure accountability in governance. “This development demonstrates the USA’s dedication to restitution and promoting integrity in public service,” he said.
To ensure transparency in the use of the funds, the AGF noted that the World Bank and the International Institute for Justice (IIJ) will oversee disbursement and utilization, with regular progress reports submitted to both Nigeria and the US. The funds will be allocated to projects designed to benefit the Nigerian people, in line with principles set by the United Nations Convention Against Corruption (UNCAC) and the Global Forum on Asset Recovery (GFAR).
This milestone reinforces international efforts to recover stolen assets and channel them toward development initiatives that promote good governance and accountability.
