The Federal Government of Nigeria and the United States have reached an agreement to repatriate over $52.88 million in assets recovered from corruption cases. Kimiebi Ebienfa, Acting Spokesperson for Nigeria’s Ministry of Foreign Affairs, disclosed the development in a statement issued on Saturday in Abuja.
The agreement, signed by Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi, SAN, and the U.S. Ambassador to Nigeria, Richard Mills Jr., underscores the strong collaboration between both nations in promoting accountability and governance. The recovered funds, secured through the U.S. Department of Justice’s Kleptocracy Asset Recovery Initiative, were tied to high-profile corruption cases, including money laundering and alleged bribery involving former Petroleum Resources Minister Diezani Alison-Madueke.
Among the forfeited assets are the luxury superyacht Galactica Star and high-end properties in California and New York. Legal proceedings for the recovery were concluded in 2023, following extensive investigations aided by Nigerian authorities. According to Ebienfa, the funds will be allocated to critical projects that directly benefit Nigerians, such as electrification initiatives, and international counter-terrorism efforts.
Both governments have agreed to strict mechanisms to ensure transparency and accountability in the funds’ utilization.
“This agreement is a testament to the commitment of both countries to Nigeria’s progress and development,” the statement read.
“The U.S. government remains steadfast in its fight against corruption and money laundering, while Nigeria continues to promote good governance and accountability.”
