The Federal Government of Nigeria, through the Attorney General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi (SAN), has officially received the return of $52.88 million in stolen funds connected 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 in Abuja, with U.S. Ambassador to Nigeria, Richard M. Mills, representing the United States Government.
In his remarks, Fagbemi praised the collaboration between the two nations, emphasizing their shared commitment to transparency, integrity, and the rule of law.
He noted that the repatriation is a key step in Nigeria’s ongoing fight against corruption and efforts to recover stolen assets, while also acknowledging the U.S.’s enduring support for good governance.
The AGF revealed that the funds, referred to as the Galactica assets, would be allocated to two significant projects.
A total of $50 million is earmarked for Nigeria’s Rural Electrification Project, managed by the World Bank, to increase access to renewable energy.
The remaining $2.88 million will fund a counter-terrorism training programme for criminal justice professionals across Africa, coordinated by the International Institute for Justice (IIJ).
Fagbemi assured that strict oversight would ensure transparency in the use of the funds, with regular reports to both governments to track progress.
He also emphasized that the repatriation of the assets demonstrates President Bola Ahmed Tinubu’s firm commitment to combating corruption and utilizing recovered resources for the nation’s development.
“This agreement highlights the President’s determination to fight corruption and ensure that returned funds are used for the benefit of the Nigerian people,” Fagbemi said.
He reiterated that the repatriation aligns with Nigeria’s obligations under the United Nations Convention against Corruption (UNCAC) and the Proceeds of Crime (Recovery and Management) Act (POCA).
Ambassador Mills also expressed confidence that the returned funds would be used appropriately.
He reaffirmed the $50 million allocation for rural electrification and $2.88 million for counter-terrorism training, praising the partnership between the two countries as an example of their strong bilateral ties.
Mills urged continued cooperation to expedite the recovery of other pending stolen assets to support Nigeria’s development.
