US returns $52.88m recovered from Diezani’s assets to Nigeria

The Nigerian government has recovered $52.88 million in Galactica assets (Diezani’s assets) linked to former Petroleum Minister Diezani Alison-Madueke, handed over by the United States on Friday.

According to reports, the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, disclosed the recovery during a formal signing ceremony in Abuja.

Fagbemi announced that $50 million of the recovered funds would be directed through the World Bank to support rural electrification projects, while the remaining $2.88 million would be allocated to the International Institute of Justice to strengthen the justice system and support anti-corruption initiatives.

“This asset return represents a significant milestone in the partnership between Nigeria and the United States to combat corruption and uphold the rule of law,” Fagbemi stated.

He noted that the recovery aligns with President Bola Tinubu’s pledge to fight corruption and ensure public funds are effectively utilized.

In his remarks, the United States Ambassador to Nigeria, Richard Mills, emphasized the importance of accountability, urging the Nigerian government to ensure the recovered assets are used transparently for the benefit of its citizens.

“The Ministry of Justice must ensure these funds are utilized effectively and transparently to improve the lives of Nigerians,” Mills said.