Federal Government Receives $52.88 Million in Recovered Assets Linked to Ex-Minister of Petroleum
The Federal Government, represented by Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, announced the receipt of $52.88 million in recovered assets linked to former Minister of Petroleum, Diezani Alison-Madueke, from the United States. This announcement was made during the formal signing ceremony of the asset recovery agreement between Nigeria and the United States, held in Abuja.
At the ceremony, Fagbemi revealed that $50 million of the recovered funds would be allocated through the World Bank for a rural electrification project, while the remaining $2 million would be directed to the International Institute of Justice. The funds for the institute will be used to expand the justice system and support efforts to counter corruption within Nigeria.
Fagbemi emphasized that the return of these assets marked a significant milestone in the ongoing collaboration between Nigeria and the United States in their fight against corruption. He highlighted the importance of such efforts in strengthening the rule of law and advancing justice in the country.
The Attorney-General also underscored that the event was part of President Bola Tinubu’s broader commitment to tackling corruption. The asset recovery reflects the government’s dedication to addressing financial crimes and ensuring that illicit wealth is returned for the benefit of the Nigerian people.
