https://en.sputniknews.africa/20250111/us-returns-almost-53-million-in-funds-allegedly-stolen-by-ex-oil-minister-to-nigeria--1070128477.html
US Returns Almost $53 Mln in Funds Allegedly Stolen by Ex-Oil Minister to Nigeria
US Returns Almost $53 Mln in Funds Allegedly Stolen by Ex-Oil Minister to Nigeria
Sputnik Africa
In November 2022, the US government returned $20.6 million to Nigeria, which were assets reportedly embezzled by the former Nigerian leader, General Sani... 11.01.2025, Sputnik Africa
2025-01-11T15:59+0100
2025-01-11T15:59+0100
2025-01-15T16:45+0100
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nigeria
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organization of petroleum exporting countries (opec)
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The United States has repatriated approximately $52.88 million in alleged illicit funds linked to Nigeria’s former oil minister, Diezani Alison-Madueke, to the West African nation. Nigeria’s justice ministry announced that the funds would be used to support public services, including rural electrification and anti-corruption efforts.The US Department of Justice revealed that the funds were laundered through the United States by Alison-Madueke and her associates during her tenure as Nigeria’s minister of petroleum resources between 2010 and 2015. The recovered assets include money allegedly used to purchase a 65-meter superyacht, the Galactica Star, and luxury properties in California and New York. This reportedly marks the first repatriation of assets tied to Alison-Madueke from outside Nigeria.At a formal ceremony in Abuja, Nigeria's Attorney-General and Minister of Justice, Lateef Fagbemi, described the repatriation as a significant step in the fight against corruption, according to reports.Alison-Madueke, who served in the administration of former President Goodluck Jonathan (2010-2015) and was the first female president of OPEC, has consistently denied allegations of wrongdoing. She is also facing bribery charges in the United Kingdom related to alleged gifts of luxury goods, cash payments, and private school fees.
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nigeria, united states (us), world bank, organization of petroleum exporting countries (opec), west africa, north america, corruption, economy, electricity, justice
US Returns Almost $53 Mln in Funds Allegedly Stolen by Ex-Oil Minister to Nigeria
15:59 11.01.2025 (Updated: 16:45 15.01.2025) Christina Glazkova
Writer / Editor
In November 2022, the US government returned $20.6 million to Nigeria, which were assets reportedly embezzled by the former Nigerian leader, General Sani Abacha. This follows a previous transfer of $311.8 million to Nigeria in 2020, under an agreement aimed at repatriating funds linked to the Abacha regime.
The United States has
repatriated approximately $52.88 million in alleged illicit funds linked to Nigeria’s former oil minister, Diezani Alison-Madueke, to the West African nation. Nigeria’s justice ministry announced that the funds would be used to support public services, including rural electrification and anti-corruption efforts.
The US Department of Justice revealed that the funds were laundered through the United States by Alison-Madueke and her associates during her tenure as Nigeria’s minister of petroleum resources between 2010 and 2015. The recovered assets include money allegedly used to purchase a 65-meter superyacht, the Galactica Star, and luxury properties in
California and New York. This reportedly marks the first repatriation of assets tied to Alison-Madueke from outside Nigeria.
At a formal ceremony in Abuja, Nigeria's Attorney-General and Minister of
Justice, Lateef Fagbemi, described the repatriation as a significant step in the fight against corruption, according to reports.
Of the total $52.88 million, $50 million will be managed by the World Bank to finance rural electrification projects, while $2.88 million will be allocated to the International Institute of Justice to strengthen Nigeria’s justice system and promote anti-corruption initiatives.
Alison-Madueke, who served in the administration of former President Goodluck Jonathan (2010-2015) and was the first female president of OPEC, has consistently denied allegations of wrongdoing. She is also facing bribery charges in the United Kingdom related to alleged gifts of luxury goods, cash payments, and private school fees.
