The Government of the United States of America (USA) says it has repatriated $52.88 million it said was traced to former Nigeria’s Petroleum Resources Minister Diezani Alison-Madueke.
The US Ambassador to Nigeria, Mr. Richard M. Mills, Jr, headed a delegation that finalized the Assets Return Agreement at the Federal Ministry of Justice Headquarters in Abuja on Friday.
Prince Lateef Fagbemi (SAN), Attorney-General of the Federation and Minister of Justice, while signing the agreement on behalf of the Federal Government, revealed that the $52.88m was obtained from the forfeiture of Galactica assets linked to a former Minister and her associates.
Fagbemi said the development demonstrated the unwavering commitment of both Nigeria and the US to fight corruption, and also showed the US’s commitment to facilitating restitution and supporting integrity and accountability in governance.
He said: “Measures have also been put in place to ensure that the repatriated funds are not only disbursed but also utilized transparently and accountably by the World Bank and IIJ, with periodic reports to be forwarded to Nigeria and the US on the implementation of the projects.
“This robust framework will guarantee that the funds are effectively used for the full benefit of the Nigerian people in line with UNCAC and the Global Forum on Asset Recovery (GFAR) principles.”
Persecondnews recalls that Alison-Madueke made history in Nigeria’s political landscape with her numerous “firsts”.
She became Nigeria’s Minister of Transportation on July 26, 2007, and was later moved to the Ministry of Mines and Steel Development in 2008.
In April 2010, she was appointed as the first female Minister of Petroleum Resources under ex-President Goodluck Jonathan.
One of her notable policies was supporting the removal of state subsidies on fuel prices, citing the financial burden on the government and the wealthy.
Alison-Madueke was elected as the first female President of OPEC at the 166th OPEC Ordinary meeting in Vienna on November 27, 2014.
Persecondnews recalls that her tenure in office was tainted by controversy, marked by serious allegations of corruption and mishandling of funds.
These accusations cast a shadow over her accomplishments, raising questions about transparency and accountability while she called the shots as minister.
She, currently a fugitive in UK, is being prosecuted for money laundering and corruption in several courts in Nigeria with forfeiture of her assets and properties in billions of naira to the government already secured.
Details shortly…
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