The Federal Government and the United States have reached an agreement to repatriate approximately $52.88 million in forfeited corruption proceeds.
A statement by the ministry of Foreign Affairs expaluns that the funds, seized under the Kleptocracy Asset Recovery Initiative of the U.S. Department of Justice, stem from assets linked to money laundering and bribery involving former Petroleum Resources Minister, Diezani Alison-Madueke.
The recovered assets include the luxury yacht Galactica Star and prime real estate in the U.S.
The repatriation is a major step in the ongoing partnership between the two countries to combat corruption and recover stolen assets.
According to the statement, Nigerian authorities provided crucial assistance in the investigation, which concluded in 2023 with the U.S. Department of Justice, FBI, and IRS successfully forfeiting the assets.
It says that both nations have pledged to ensure the recovered funds are transparently used for Nigeria’s electrification projects and international counterterrorism efforts.
According to the statement the Ministry of Foreign Affairs emphasizes that this agreement underscores Nigeria’s commitment to good governance and the U.S.’s dedication to fighting financial crimes.
The two countries also reaffirms their resolve to promote accountability and ensure the returned funds benefit the Nigerian people.
