In a landmark collaboration between Nigeria and the United States, the Nigerian government has received $52.88 million in recovered assets linked to former Minister of Petroleum Resources, Diezani Alison-Madueke. The announcement was made during a formal signing ceremony held in Abuja on Friday, presided over by the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi.
Speaking at the event, Fagbemi disclosed that $50 million of the recovered funds will be channeled through the World Bank to support rural electrification projects, enhancing energy access in underserved communities. The remaining $2 million will be allocated to the International Institute of Justice to strengthen Nigeria’s justice system and intensify efforts to combat corruption.
The AGF described the asset return as a milestone in the ongoing partnership between Nigeria and the United States, emphasizing its significance in the fight against corruption and the promotion of the rule of law. He noted that the initiative aligns with President Bola Tinubu’s administration’s commitment to tackling corruption and improving governance.
Richard Mills, the U.S. Ambassador to Nigeria, commended the efforts and urged transparent monitoring to ensure that the recovered assets directly benefit Nigerians.
This development underscores a renewed commitment to accountability and resource optimization, marking another step forward in Nigeria’s quest for transparency and equitable development.
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