February 11, 2025

US Repatriates $53 Million in Allegedly Stolen Funds to Nigeria

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   Nearly $53 million in alleged stolen funds, linked to Nigeria’s former oil minister Diezani Alison-Madueke and other individuals, is set to be repatriated to Nigeria from the United States. The funds, which were recovered through efforts to combat corruption, will be used to support various public service initiatives in the West African nation, as announced by Nigeria’s justice ministry. This marks a significant development in Nigeria’s ongoing efforts to recover illicitly acquired wealth and hold those responsible for corruption accountable.

The United States authorities have accused Diezani Alison-Madueke of enriching herself and others during her tenure as the head of Nigeria’s state-owned oil firm. The funds were allegedly obtained through bribery and corrupt contracts. The stolen money was reportedly used to purchase a luxury 65-meter yacht, the Galactica Star, as well as several high-end properties in California and New York. Despite these allegations, Alison-Madueke has consistently denied any wrongdoing. Her wealth has also been a subject of investigation in the United Kingdom, where she faced charges related to bribery, including accepting lavish gifts like Louis Vuitton goods and paying for private school tuition, as well as receiving more than $127,000 in cash.

Alison-Madueke, 64, played a prominent role in Nigeria’s government during the administration of former President Goodluck Jonathan. She served as the Minister of Petroleum Resources from 2010 to 2015 and was also the first female president of OPEC, the organization of oil-exporting countries. Prior to her appointment as petroleum minister, she held other ministerial roles, including Transport Minister and Minister for Solid Minerals and Steel Development.

In 2023, the US Department of Justice finalized two civil cases related to the forfeiture of assets that were allegedly laundered through the US by Alison-Madueke and her associates. The resolution of these cases led to the repatriation of $52.88 million to Nigeria. This is the first time that assets linked to Alison-Madueke have been returned to Nigeria from outside the country. The repatriation process reflects the growing international cooperation in the fight against corruption and illicit financial flows.

During the official signing ceremony in Abuja, Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi, emphasized that the return of the funds is an important milestone in Nigeria’s continued efforts to combat corruption. Fagbemi explained that the repatriated funds would be used to support national development, with $50 million allocated through the World Bank to fund rural electrification projects. The remaining $2.88 million will be directed to the International Institute of Justice, where it will be used to strengthen Nigeria’s legal system and support anti-corruption initiatives.

The repatriation of these funds is a crucial step toward improving governance and reducing corruption in Nigeria. US Ambassador to Nigeria, Richard Mills, underscored the importance of ensuring transparency and accountability in the management of the returned funds. He urged Nigeria’s Ministry of Justice to ensure that the funds are used effectively for the betterment of Nigerian citizens and to foster public trust in the government’s commitment to fighting corruption.

This is not the first time that the US has repatriated illicitly obtained assets to Nigeria. In 2022, the US returned $20.6 million that had been stolen by former Nigerian military leader General Sani Abacha. Additionally, in a previous agreement, the US government transferred $311.8 million to Nigeria as part of a broader effort to return misappropriated assets. These repatriations highlight the ongoing collaboration between the US and Nigeria in tackling financial crime and returning stolen assets to their rightful owners.

As Nigeria continues to battle corruption, the repatriation of funds like those linked to Alison-Madueke serves as a reminder of the international community’s role in supporting efforts to recover stolen wealth and promote transparency. The successful return of the $53 million represents a crucial victory in Nigeria’s fight for justice and accountability.

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