US returns $52.88m Diezani loots to Nigeria 

By Peters Monday, Abuja

The United States of America, USA, has repatriated the sum of $52. 88 million allegedly looted by the former Petroleum Resources Minister Diezani Madueke.

It was gathered that the US Ambassador to Nigeria, Mr. Richard M. Mills, Jr, led a delegation that executed the Assets Return Agreement at the Federal Ministry of Justice Headquarters in Abuja, on Friday.

The Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, who signed the agreement on behalf of the Nigerian government emphasised that the $52.88m arose from the forfeiture of Galactica assets, linked to the ex-Minister and her associates.

The AGF explained that the development was not only a demonstration to the unwavering commitment of both nations to fight corruption but also signified the commitment of the USA to facilitate restitution and support integrity and accountability in governance.

“Measures have also been put in place to ensure that the repatriated funds are not only disbursed but also utilized transparently and accountably by the World Bank and IIJ, with periodic reports to be forwarded to Nigeria and the US on the implementation of the projects.

“This robust framework will guarantee that the funds are effectively used for the full benefit of the Nigerian people in line with UNCAC and the Global Forum on Asset Recovery (GFAR) principles,” the AGF added.