By Dansu Peter The United States government has returned $52.88 million traced to former Nigerian Minister of Petroleum Resources, Diezani ...
By Dansu Peter
The repatriation agreement was signed on Friday at the Federal Ministry of Justice headquarters in Abuja. The US delegation, led by Ambassador Richard M. Mills, Jr., formalized the process alongside Nigeria's Attorney-General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi, SAN.
According to Prince Fagbemi, the returned funds stemmed from the forfeiture of assets connected to Diezani and her associates, specifically tied to Galactica assets.
“This development underscores the unwavering commitment of both nations to combat corruption and reinforces the United States’ dedication to supporting integrity and accountability in governance,” the AGF stated.
Fagbemi also emphasized that mechanisms have been established to ensure the transparent and accountable utilization of the repatriated funds. The World Bank and the International Institute for Justice (IIJ) will oversee the disbursement and implementation of projects funded by the returned assets, with regular progress reports provided to both Nigeria and the US.
“This robust framework ensures that the funds directly benefit the Nigerian people, in alignment with the principles of the United Nations Convention Against Corruption (UNCAC) and the Global Forum on Asset Recovery (GFAR),” he added.
The return of the funds marks another milestone in international collaboration to recover stolen assets and promote good governance.
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