The Federal Government, through the Attorney General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi (SAN), has formalised the return of $52.88 million stolen funds linked to former Petroleum Resources Minister, Diezani Alison-Madueke, and her associates.
The asset return agreement was signed on Friday at the Federal Ministry of Justice, Abuja. Representing the United States Government was the U.S. Ambassador to Nigeria, Richard M. Mills.
In his remarks, Fagbemi commended the collaboration between both nations, highlighting their shared commitment to integrity, accountability, and the rule of law. He described the repatriation as a critical step in Nigeria’s ongoing efforts to recover stolen assets, while acknowledging the U.S.’s steadfast support for restitution and good governance.
The AGF disclosed that the recovered funds, known as the Galactica assets, will be deployed towards two key developmental initiatives. Of the total, $50 million is earmarked for Nigeria’s Rural Electrification Project, managed by the World Bank, to enhance renewable energy access. The remaining $2.88 million will be used to support a counter-terrorism training programme for criminal justice practitioners across Africa, facilitated by the International Institute for Justice (IIJ).
Fagbemi assured stakeholders of stringent measures to ensure transparency and accountability in the utilisation of the funds. He further promised periodic progress reports to both governments to track the implementation of the projects.
“This agreement underscores President Bola Ahmed Tinubu’s unwavering resolve to fight corruption and utilise recovered resources for socio-economic development.
“It is a call to all stakeholders, both domestic and international, to uphold the principles of integrity and accountability,” Fagbemi said. He emphasised that the agreement reaffirms Nigeria’s commitments under the United Nations Convention against Corruption (UNCAC) and the Proceeds of Crime (Recovery and Management) Act (POCA), ensuring that the funds directly benefit Nigerian citizens.
On his part, Ambassador Mills expressed optimism about the judicious use of the repatriated funds. He reiterated the allocation of $50 million for rural electrification and $2.88 million for counter-terrorism training, describing the partnership as a testament to the strong ties between the two nations.
Mills also urged continuous collaboration to expedite the recovery of other pending assets to further bolster Nigeria’s development agenda.
Source: guardian.ng
