The United States Department of Justice has confirmed on its official website an agreement to transfer approximately $53 million in forfeited assets to the Federal Republic of Nigeria, recognising Nigeria’s crucial role in assisting a US investigation into corruption within the Nigerian oil industry.
The transfer, amounting to $52.88 million, is part of a broader initiative aimed at combating corruption and enhancing global security.
Principal Deputy Assistant Attorney General Brent S. Wible, head of the Justice Department’s Criminal Division, stated: “This agreement recognizes the close law enforcement relationship between the United States and Nigeria and Nigeria’s vital assistance that contributed to the successful forfeiture of millions of dollars of corruption proceeds. Our strong coordination with international partners to trace and recover assets leaves corrupt actors few places to hide their ill-gotten gains. Today’s agreement to return nearly $53 million in forfeited funds to support Nigeria and its people through electrification projects and cross-border efforts to combat terrorism demonstrates forfeiture’s power as a tool to help remediate the harms of corruption and to invest in our global fight against terrorism.”
FBI Criminal Investigative Division Assistant Director Chad Yarbrough added, “The FBI remains steadfast in its commitment to the global fight against corruption. By ensuring these forfeited funds are repatriated to Nigeria to benefit the Nigerian people through critical projects and counterterrorism efforts, the FBI reaffirms our dedication to promoting transparency and dismantling the systems that enable corruption to thrive.”
The investigation, part of the US Kleptocracy Asset Recovery Initiative, targeted the illicit activities of Nigerian businessmen Kolawole Akanni Aluko and Olajide Omokore, who, along with Nigeria’s former Petroleum Minister Diezani Alison-Madueke, were implicated in a bribery scheme. The scheme led to more than $100 million in illicit proceeds, which were laundered through the United States and used to purchase luxury real estate and a superyacht.
The seized assets were returned under US and Nigerian law, with Nigeria’s substantial support in providing evidence and investigative assistance playing a pivotal role in securing the forfeitures.
As part of the agreement, $50 million of the recovered assets will go towards Nigeria’s Distributed Access Through Renewable Energy Scale-Up project, aimed at improving electricity access using renewable energy. The World Bank will oversee the project to ensure transparency and accountability.
Additionally, $2.88 million will support Nigeria’s contributions to the International Institute for Justice and the Rule of Law (IIJ), focusing on criminal justice capacity-building and counterterrorism efforts across the region.
FBI Assistant Director Yarbrough emphasised, “By repatriating these funds to Nigeria, we ensure they directly benefit the Nigerian people through vital infrastructure and counterterrorism programmes.”
The transfer agreement was formalised in Abuja, Nigeria, by Nigeria’s Attorney General and Minister of Justice, Lateef O. Fagbemi, SAN, and US Ambassador to Nigeria, Richard M. Mills Jr. The repatriation of these funds marks a significant step in the global effort to combat corruption and enhance regional security in Nigeria.
