Nigeria and the United States have reached an agreement to return approximately $52.88 million in funds linked to former Nigerian oil minister Diezani Alison-Madueke and her associates.
This marks the first time Nigeria will reclaim assets located outside the country that are tied to Alison-Madueke.
Nigerian Justice Minister Lateef Fagbemi confirmed that the agreement would facilitate the recovery of funds tied to the “Galactica assets,” a collection of properties seized after corruption investigations. These funds were forfeited following a U.S. civil case aimed at reclaiming illicit wealth linked to Alison-Madueke.
The U.S. Justice Department filed the case in 2017, alleging that Nigerian businessmen paid bribes to Alison-Madueke in exchange for lucrative contracts from Nigeria’s state oil corporation, NNPC Ltd.
Although Alison-Madueke has denied all corruption charges, she has remained outside Nigeria, with her last known location in the United Kingdom. She served as petroleum minister under former President Goodluck Jonathan from 2010 to 2015.
According to Fagbemi, the recovered funds will be directed toward rural electrification initiatives through the World Bank, with $50 million earmarked for expanding renewable energy access. An additional $2.88 million will be allocated to the International Institute for Justice to enhance counter-terrorism efforts across Africa.
This recovery is a significant step in Nigeria’s ongoing fight against corruption, particularly within the oil sector.
