Nigeria and the United States have signed an agreement to repatriate approximately $52.88 million in assets forfeited by former Nigerian oil minister Diezani Alison-Madueke and her associates.
This agreement marks a significant milestone, paving the way for the first repatriation of assets linked to corruption cases involving Nigerian officials.
The funds, which were obtained through a civil lawsuit filed by the U.S. Department of Justice, were allegedly acquired through bribes paid to Alison-Madueke during her tenure as Minister of Petroleum Resources under former President Goodluck Jonathan from 2010 to 2015.
Alison-Madueke has denied all corruption allegations against her.
The repatriated funds will be utilized to support rural electrification projects in Nigeria, with $50 million allocated to increasing access to renewable energy through the World Bank.
The remaining $2.88 million will be used as a grant by Nigeria to the International Institute for Justice to support counter-terrorism efforts across Africa.
This agreement underscores the ongoing efforts by the Nigerian government and international partners to combat corruption and recover stolen assets.
