The United States has repatriated almost $53 million in funds allegedly stolen by Nigeria’s former oil minister, Diezani Alison-Madueke.
This is the first time assets linked to Alison-Madueke have been returned to Nigeria from abroad.
The recovered funds, totaling $52.88 million, were laundered through the US by Alison-Madueke and her associates during her tenure as minister of petroleum resources from 2010 to 2015.
The money was used to acquire luxury assets, including a 65-meter superyacht, the Galactica Star, and high-end properties in California and New York.
Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi, announced that the recovered funds will be allocated towards supporting public services.
Specifically, $50 million will be used for rural electrification projects through the World Bank, while $2.88 million will enhance the country’s justice system and anti-corruption efforts through the International Institute of Justice.
Alison-Madueke, who has denied all criminal allegations, is still facing scrutiny in the UK for bribery and money laundering.
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