The Federal government has received $52.88m recovered Galactica assets linked to a former Minister of Petroleum Diezani Alison-Madueke from the USA.
Diezani, who served as Minister under the Goodluck Jonathan administration have been under investigation regarding fund’s mismanagement and corruption during her tenure as minister of Petroleum
The Attorney-General of the Federation and Minister of Justice Lateef Fagbemi disclosed the funds recovery at the formal signing ceremony of the asset agreement between Nigeria and the United States of America in Abuja on Friday, January 10.
Speaking at the ceremony, Fagbemi explained that $50m of the recovered assets will be deployed through the World Bank to the development of the rural electrification project and the remaining $2m will be deployed to the International Institute of Justice to expand the Justice system and also counter corruption.
Speaking further, Fagbemi noted that the asset return marks a milestone in the ongoing collaboration between Nigeria and the United States in combating corruption and upholding the rule of law
The United States Ambassador to Nigeria Richard Mills called for the monitoring and effectively utilizing the recovered assets by the Ministry of Justice to benefit Nigeria and its people
