Nigeria and the United States have signed an agreement to repatriate approximately $52.88 million in assets seized from Diezani Alison-Madueke, the former Nigerian Minister of Petroleum Resources, and her associates.
The forfeited funds, linked to the so-called Galactica assets, are part of a wider investigation into allegations of monumental corruption during Alison-Madueke’s time in office.
The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, and the US Ambassador to Nigeria, Richard Mills Jr., signed an Asset Return Agreement between the two countries in Abuja on Friday.
This agreement, follows years of legal battles and emphasizes the global reach of efforts to recover illicit wealth.
Fagbemi confirmed that the $52.88 million would be used to fund key development projects, with $50 million dedicated to expanding access to renewable energy in rural Nigeria through World Bank initiatives.
The remaining $2.88 million will be allocated to a grant for the International Institute for Justice to strengthen counterterrorism capacities across Africa.
Diezani Alison-Madueke, once one of Nigeria’s most powerful figures, served as Minister of Petroleum Resources from 2010 to 2015 under President Goodluck Jonathan. A former oil executive, she was one of the first women to hold such a high-ranking government position in Nigeria.
However, her tenure was marred by allegations of corruption, embezzlement, and the misuse of public funds, particularly in relation to Nigeria’s state-owned oil company, the Nigerian National Petroleum Corporation (NNPC).
Her name became synonymous with Nigeria’s corruption scandals, with claims that she accepted bribes, misappropriated funds, and facilitated illegal deals. Despite numerous legal challenges, she has remained a fugitive since fleeing Nigeria after the change of government in 2015, with her last known location being the United Kingdom.
Though Alison-Madueke has repeatedly denied all accusations, the long-running legal case against her, supported by both Nigerian and international investigations, has drawn attention to the massive scale of alleged corruption during her time in power.
The road to this asset repatriation has been a long one. The United States Department of Justice initiated a civil complaint back in 2017, aiming to recover more than $144 million in assets allegedly obtained through bribes paid to Alison-Madueke.
The complaint named two Nigerian businessmen accused of conspiring to bribe the former minister in exchange for lucrative oil contracts, and it was part of a broader push to investigate and seize stolen assets linked to high-ranking Nigerian officials.
This latest repatriation is a major milestone in what is considered one of Nigeria’s largest efforts to reclaim stolen wealth from foreign jurisdictions.
While Alison-Madueke remains a fugitive, this deal with the United States signals a growing international commitment to returning looted assets to Nigeria for the benefit of its people.
In addition to the financial repatriation, the Nigerian government has been making strides in securing judicial rulings in its favour.
In October 2022, a Nigerian court ordered the final seizure of properties and luxury cars owned by Alison-Madueke.
The $52.88 million repatriated from the US will be used strategically to address two major needs within Nigeria as stated by Lateef Fagbemi.
The bulk of the funds, $50 million, will go towards increasing access to renewable energy, particularly in rural areas. Nigeria’s energy deficit has been a long-standing challenge, and this investment will play a crucial role in providing sustainable energy solutions to off-grid communities, many of which still rely on expensive and environmentally harmful diesel generators.
The remaining $2.88 million will be used to strengthen counterterrorism efforts across Africa, specifically through a partnership with the International Institute for Justice.
The saga of Diezani Alison-Madueke, may not be over yet, but this asset return marks an important step in the nation’s battle to regain what was taken from its people.
