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| Diezani Madueke |
The United States has repatriated $52.88 million allegedly linked to Nigeria's former Petroleum Resources Minister, Diezani Madueke. The funds, which were forfeited as part of the "Galactica assets," were handed over during a formal ceremony at the Federal Ministry of Justice Headquarters in Abuja on Friday.
The agreement was executed by the US Ambassador to Nigeria, Richard M. Mills, Jr., who led a delegation to the event. Representing the Nigerian government, the Attorney-General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi, SAN, signed the Assets Return Agreement.
According to Fagbemi, the repatriation reflects the strong bilateral commitment to combating corruption and ensuring accountability. He stated that the funds would be managed transparently through a framework involving the World Bank and the International Institute for Justice (IIJ). Regular reports on project implementation will be shared with both Nigeria and the United States.
“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,” the AGF said.
The funds, traced to Madueke and her associates, underline ongoing efforts by both nations to facilitate restitution and promote integrity in governance.
More updates to follow...
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