From Godwin Tsa, Abuja
The Nigerian government has received $52.88m recovered Galactica assets, linked to a former Minister of Petroleum, Diezani Alison-Madueke and her associates from the United States of America.
The Attorney-General of the Federation and Minister of Justice Lateef Fagbemi (SAN), disclosed this at the formal signing ceremony of the asset agreement between Nigeria and the United States of America in Abuja on Friday.
The US Ambassador to Nigeria, Mr. Richard M. Mills, Jr. led a delegation that executed the Assets Return Agreement at the Federal Ministry of Justice Headquarters in Abuja, on Friday.
The AGF, who signed the agreement on behalf of Nigeria, disclosed that the $52.88m arose from the forfeiture of Galactica assets, linked to the ex-minister and her associates.
Speaking at the ceremony, Fagbemi explained that $50m of the recovered assets will be deployed through the World Bank to the development of the rural electrification project and the remaining $2m will be deployed to the International Institute of Justice to expand the Justice system and also counter corruption.
He noted that the asset return marks a milestone in the ongoing collaboration between Nigeria and the United States in combating corruption and upholding the rule of law
The AGF said the event is also a significant effort by President Bola Tinubu to address the issue of corruption.
The AGF maintained that the development was not only a testament to the unwavering commitment of both nations to fight corruption but also signified the commitment of the USA to facilitate restitution and support integrity and accountability in governance.
The collaboration between Nigeria and the USA is underpinned by our shared values and mutual respect, and this has been pivotal in facilitating this agreement.
Meanwhile, in his remarks, the United States Ambassador to Nigeria Richard Mills called for the monitoring and effectively utilizing the recovered assets by the Ministry of Justice to benefit Nigerians.