The United States has repatriated approximately $52.88 million to Nigeria, proceeds from assets linked to former Petroleum Resources Minister, Diezani Alison-Madueke, and her associates. The funds were returned under the Asset Return Agreement (ARA) signed between the two countries.
The signing ceremony, which took place on Thursday, was attended by Nigeria’s Attorney General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi (SAN), and the U.S. Ambassador to Nigeria, Richard M. Mills Jr.
Funds to Boost Rural Electrification and Counter-Terrorism
Out of the total amount, $50 million will be used through the World Bank to support Nigeria’s Rural Electrification Project, which aims to improve the availability and reliability of renewable energy across the country. The remaining $2.88 million will be allocated as a grant to the International Institute for Justice (IIJ) to fund a Rule of Law and Counter-Terrorism Project. This initiative will enhance counter-terrorism capacity for criminal justice practitioners in East, West, and North Africa.
The AGF expressed optimism about the impact of these projects, stating, “The funds will contribute significantly to creating an enabling environment for socio-economic growth and development in Nigeria.”
Fagbemi assured Nigerians of transparency and accountability in the utilization of the funds. “Measures have been put in place to ensure these repatriated funds are effectively disbursed and monitored by the World Bank and IIJ, with periodic reports forwarded to both Nigeria and the United States,” he added.
A Victory in the Fight Against Corruption
The AGF highlighted the broader significance of the repatriation, calling it a testament to Nigeria’s and the U.S.’s commitment to fighting corruption. “This partnership underscores the importance of international cooperation in addressing corruption, which is often linked to trans-border crimes,” he said.
He urged the United States to expedite the repatriation of other pending funds and assets tied to corrupt practices, stating that Nigeria urgently needs these resources for development.
Ambassador Mills described the agreement as a milestone in the collaborative fight against corruption. “This is a remarkable achievement that demonstrates our shared commitment to curb corruption, uphold the rule of law, and ensure stolen funds are returned for the benefit of the Nigerian people,” he said.
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Diezani Alison-Madueke’s Legal Troubles
The repatriated funds are part of the broader forfeiture of assets linked to Alison-Madueke, who has been under investigation for corruption. A Court of Appeal ruling in November 2021 upheld the forfeiture of jewelry worth $40 million and a customized gold iPhone owned by the former minister.
The jewelry, comprising 33 sets and items like 419 bangles, 315 rings, and 304 earrings, was declared to be proceeds of crime. Justice I.N. Oweibo of the Federal High Court in Lagos had earlier ordered the final forfeiture of these items in September 2019.
The former minister is also facing charges of bribery at Westminster Court in London and 13 counts of money laundering filed by Nigeria’s Economic and Financial Crimes Commission (EFCC). On January 24, 2022, the EFCC obtained a warrant for her arrest from a Federal High Court in Abuja.
A Call for Accountability
The Nigerian government has reiterated its commitment to ensuring that repatriated funds are used for public benefit. “This agreement is a clarion call to all stakeholders, both domestic and international, to uphold the principles of integrity, transparency, and accountability,” Fagbemi said.
As Nigeria continues its fight against corruption, this repatriation serves as a reminder of the importance of international cooperation in recovering stolen assets and fostering good governance.