The Nigerian government has received $52.88 million in recovered assets linked to former Petroleum Minister, Diezani Alison-Madueke.
The assets, known as the “Galactica assets,” were returned by the United States government.
Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, announced this at a formal signing ceremony of the asset agreement in Abuja on Friday.
The recovered funds will be utilized for development projects. $50 million will be channeled through the World Bank to support rural electrification initiatives, while the remaining $2.88 million will be allocated to the International Institute of Justice to strengthen the justice system and combat corruption.
Minister Fagbemi stated that this asset repatriation marks a significant milestone in Nigeria’s collaboration with the US in combating corruption and upholding the rule of law. He also emphasized President Bola Tinubu’s commitment to addressing corruption.
