Nigeria and the United States have reached a landmark agreement to repatriate $52.88 million in assets forfeited by former Nigerian Petroleum Minister Diezani Alison-Madueke and her associates.
This is the first time Nigeria will recover assets connected to the former minister from outside the country.
The U.S. began efforts in 2017 to seize $144 million in assets allegedly acquired through bribes paid to Alison-Madueke.
Two businessmen were accused of paying the bribes while she managed the state oil company, NNPC, from 2010 to 2015. Alison-Madueke, who was last known to be in Britain, has denied any wrongdoing.
According to Justice Minister Lateef Fagbemi, $50 million of the recovered money will be used for rural electrification projects through the World Bank, focusing on renewable energy. The remaining $2.88 million will support counter-terrorism efforts in Africa.
Recall in 2022, a Nigerian court ordered the final seizure of two properties and luxury cars owned by Alison-Madueke.