The federal government has disclosed that it has received $52.88 million in recovered Galactica assets linked to former Minister of Petroleum Diezani Alison-Madueke from the United States.
The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, shared this information during the formal signing ceremony of the asset agreement between Nigeria and the United States in Abuja on Friday.
Delivering his remarks Fagbemi explained that $50m of the recovered assets will be deployed through the World Bank to the development of the rural electrification project and the remaining $2m will be deployed to the International Institute of Justice to expand the Justice system and also counter corruption.
Speaking further, Fagbemi noted that the asset return marks a milestone in the ongoing collaboration between Nigeria and the United States in combating corruption and upholding the rule of law
He said the event is also a significant effort by President Bola Tinubu to address the issue of corruption.
Meanwhile, in his remarks, the United States Ambassador to Nigeria Richard Mills called for the monitoring and effectively utilizing the recovered assets by the Ministry of Justice to benefit Nigerians.
