US to return $52.88m in assets forfeited by ex-Nigerian oil minister
Nigeria and the United States signed an agreement on Friday to repatriate about $52.88 million in assets forfeited by former Nigerian oil minister Diezani Alison-Madueke and her associates.
The agreement opens the way for the first repatriation to Nigeria of assets outside the West African country linked to Alison-Madueke.
Nigerian Justice Minister Lateef Fagbemi said the agreement with the U.S. enables “the repatriation of approximately $52.88 million arising from the forfeiture of the Galactica assets, linked to the former Petroleum Resources Minister Diezani Alison-Madueke and her associates.”
The agreement follows a 2017 civil complaint filed by the U.S. Justice Department aimed at recovering about $144 million in assets allegedly obtained through bribes to the former minister.
The lawsuit alleged that two Nigerian businessmen conspired with others to pay bribes to Alison-Madueke, who oversaw the country’s state-owned oil firm NNPC Ltd.
Alison-Madueke, whose whereabouts are unclear but was last known to be in Britain, has previously denied corruption charges against her.
She was minister under former President Goodluck Jonathan from 2010 until May 2015.
The funds will be used to support rural electrification projects through the World Bank, with $50 million allocated to increasing access to renewable energy, Fagbemi said.
The remaining $2.88 million will be disbursed as a grant by Nigeria to the International Institute for Justice to support counter-terrorism capacity across Africa, he said.
—Reuters
