The United States government has returned $52.88 million traced to Nigeria’s former Minister of Petroleum Resources, Diezani Madueke.
The US Ambassador to Nigeria, Richard M. Mills Jr., led a delegation to sign the Assets Return Agreement at the Federal Ministry of Justice in Abuja on Friday.
Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, signed the agreement on behalf of the Nigerian government. He explained that the funds were recovered from the forfeiture of assets linked to Diezani and her associates.
Speaking at the ceremony, Fagbemi said,“This development is a strong testament to the commitment of Nigeria and the United States to fight corruption.
“Measures have been put in place to ensure the repatriated funds are disbursed and utilized transparently and accountably by the World Bank and IIJ. Regular reports will be sent to Nigeria and the US on how the funds are used.”
He added that the funds would benefit the Nigerian people and align with principles from the United Nations Convention Against Corruption (UNCAC) and the Global Forum on Asset Recovery (GFAR).
The US Ambassador highlighted the shared resolve of both countries to fight corruption and promote accountability.
The agreement marks another milestone in efforts to recover stolen public funds and utilize them for the development of Nigeria.
This recovery follows several other funds linked to Diezani Madueke, who has faced accusations of corruption and money laundering during her tenure as Minister of Petroleum Resources.
