NIGERIA and the United States have reached an agreement to repatriate $52.88 million in assets forfeited by former petroleum resources minister Diezani Alison-Madueke and her associates. Nigerian Justice Minister Lateef Fagbemi confirmed the deal on Friday, marking another milestone in efforts to recover stolen public funds.
Fagbemi stated that the agreement formalises the return of the Galactica assets, a collection of properties and funds seized in connection with Alison-Madueke’s corruption scandal. The deal is part of a broader initiative to reclaim illicitly acquired wealth stashed abroad.
The recovered funds will be channelled into key development projects. A substantial $50 million will be allocated to expanding rural electrification through the World Bank, improving access to renewable energy for underserved communities. The remaining $2.88 million will be provided as a grant to the International Institute for Justice, supporting counter-terrorism efforts across Africa.
Alison-Madueke, who served as Nigeria’s oil minister from 2010 to 2015, has been at the centre of multiple corruption investigations spanning the UK, US, and Nigeria. The latest repatriation deal underscores ongoing international cooperation to combat financial crimes and ensure stolen public funds are redirected for public benefit.
