The United States has repatriated $52.88 million linked to Nigeria’s former Petroleum Resources Minister, Diezani Alison-Madueke. The funds, forfeited from Galactica assets associated with Alison-Madueke and her associates, were returned under an Asset Return Agreement signed on Friday at the Federal Ministry of Justice headquarters in Abuja.

US Ambassador to Nigeria, Richard Mills Jnr., represented the American delegation, while Nigeria’s Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, signed on behalf of the Federal Government.

Highlighting the agreement, Fagbemi described it as evidence of President Bola Tinubu’s dedication to fighting corruption and ensuring resources are used for socio-economic development.

“This agreement formalizes the repatriation of approximately $52.88 million linked to former Petroleum Resources Minister Diezani Alison-Madueke. Of the recovered funds, $50 million will be allocated through the World Bank to Nigeria’s Rural Electrification Project to expand renewable energy. The remaining $2.88 million will support the International Institute for Justice’s Rule of Law and Counter-Terrorism Project, enhancing the capacity of criminal justice practitioners across Africa,” Fagbemi explained.

He assured that strict measures were in place to ensure transparency and accountability in fund utilization, with regular progress reports to both Nigeria and the US.

Ambassador Mills expressed confidence in Nigeria’s commitment to responsibly utilizing the funds, emphasizing the strong partnership between the two nations.

“We are returning nearly $53 million of corruptly taken funds to benefit the Nigerian people. This agreement underscores the strong partnership between our governments in combating corruption and promoting the rule of law,” Mills stated.

He further noted that the funds were only returned because of trust in Nigeria’s ability to use them effectively for its citizens’ benefit.