Galactica assets linked to former Petroleum Minister Diezani Alison-Madueke were officially handed over by the United States on Friday, marking a significant milestone in the global fight against corruption.
According to reports, the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, made the announcement during a formal signing ceremony in Abuja, Nigeria. This event follows a period of legal proceedings that saw the recovery of these substantial funds linked to Diezani’s assets, which were reportedly illicitly acquired during her time in office as the Petroleum Minister.
In his speech, Fagbemi revealed that a total of $50 million of the recovered funds would be channeled through the World Bank. This money is intended to support vital rural electrification projects across the country, helping to improve energy access in remote areas. The remaining $2.88 million will be allocated to the International Institute of Justice to aid in strengthening the Nigerian justice system and supporting anti-corruption initiatives to foster a more transparent and effective governance structure in the country.[/p>
Fagbemi emphasized that this return of assets signifies a key step forward in the ongoing partnership between Nigeria and the United States to combat corruption. He expressed confidence that this would set an important precedent for future collaboration between the two nations in upholding the rule of law and ensuring public funds are properly utilized.
“The asset return represents a significant milestone in the partnership between Nigeria and the United States to combat corruption and uphold the rule of law,” Fagbemi stated. “This move demonstrates our commitment to fighting corruption and ensuring that recovered assets are put to good use for the betterment of our country.”
The Nigerian Attorney-General also noted that this action is in line with President Bola Tinubu’s pledge to fight corruption and ensure that public funds are effectively managed for the development of Nigeria. The return of the assets will be crucial in advancing the country’s goals of economic development and equitable resource distribution for its citizens, particularly through the implementation of the rural electrification projects and justice system reforms.
The United States Ambassador to Nigeria, Richard Mills, also spoke at the event, reiterating the importance of accountability in handling recovered assets. Mills emphasized the need for transparency and proper management of the funds, urging the Nigerian government to ensure that the funds are used to directly benefit its people. He remarked that these funds must not only be used in line with the projects they were designated for but also to foster long-term development and strengthen the trust between Nigeria and international stakeholders.
“The Ministry of Justice must ensure these funds are utilized effectively and transparently to improve the lives of Nigerians,” Mills stated. “We have a shared responsibility to ensure that these resources contribute to the public good and are not diverted away from their intended purposes.”
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