The Government of the United States of America, USA, has repatriated $52.88 million that it claims was traceable to former Petroleum Resources Minister Diezani Madueke. Mr. Richard M. Mills, Jr., the US Ambassador to Nigeria, led a group that signed the Assets Return Agreement at the Federal Ministry of Justice Headquarters in Abuja on Friday.
The Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, signed the deal on behalf of the Federal Government. He said that the $52.88 million came from the forfeiture of Galactica assets associated to the ex-Minister and her cronies.
It was emphasised that the development demonstrated not just both countries’ unshakeable commitment to combating corruption, but also the USA’s commitment to facilitating restitution and promoting integrity and accountability in governance.
“Measures have also been put in place to guarantee that the repatriation money are not only released but also used transparently and accountably by the World Bank and IIJ, with periodic reports to Nigeria and the US on project progress.
“This robust framework will guarantee that the funds are effectively used for the full benefit of the Nigerian people in line with UNCAC and the Global Forum on Asset Recovery (GFAR) principles,” the advisory group stated.
