The Federal Government of Nigeria has officially received $52.88 million in recovered assets tied to former Petroleum Minister Diezani Alison-Madueke from the United States.
Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, announced the development during a formal asset agreement signing ceremony in Abuja on Friday.
Fagbemi revealed that $50 million of the recovered funds would be allocated through the World Bank to support rural electrification initiatives. The remaining $2 million will be directed toward strengthening Nigeria’s justice system and enhancing anti-corruption efforts via the International Institute of Justice.
Describing the asset return as a landmark achievement, Fagbemi emphasized its significance in reinforcing cooperation between Nigeria and the U.S. to combat corruption and promote the rule of law. He highlighted it as part of President Bola Tinubu’s commitment to addressing corruption in the nation.
U.S. Ambassador to Nigeria, Richard Mills, stressed the importance of transparent management and effective use of the recovered funds to ensure they directly benefit Nigerians.
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