Nigeria and the United States entered into an agreement on Friday to repatriate approximately $52.88 million in assets that were forfeited by former Nigerian oil minister Diezani Alison-Madueke and her associates.
The agreement paves the way for the initial repatriation to Nigeria of assets associated with Alison-Madueke that are located outside the West African nation.
Attorney General of Nigeria and Justice Minister Lateef Fagbemi said the agreement with the US enables “the repatriation of approximately $52.88 million arising from the forfeiture of the Galactica assets, linked to the former Petroleum Resources Minister Diezani Alison-Madueke and her associates.”
The agreement comes after a civil complaint was filed by the US Justice Department in 2017, seeking to recover approximately $144 million in assets that were reportedly acquired through bribes to the former minister.
The lawsuit claimed that two Nigerian businessmen colluded with others to offer bribes to Alison-Madueke, who managed the nation’s state-owned oil company, NNPC Ltd.
Diezani Alison-Madueke, whose location remains uncertain but was last reported to be in Britain, has previously refuted the corruption charges levelled against her.
She served as a minister during the presidency of Goodluck Jonathan from 2010 until May 2015.
According to Fagbemi, the funds will be directed towards supporting rural electrification projects via the World Bank, with $50 million designated for enhancing access to renewable energy.
The remaining $2.88 million will be allocated as a grant by Nigeria to the International Institute for Justice to enhance counter-terrorism capabilities throughout Africa, he stated.
