The Federal Government of Nigeria and the U.S. Government have signed an agreement to repatriate $52.88 million in forfeited corruption proceeds to Nigeria. The deal was signed by Attorney-General Lateef Fagbemi, SAN, and U.S. Ambassador Richard Mills Jr.
The funds were recovered through U.S. court proceedings in 2023, involving assets like the super yacht Galactica Star and real estate in California and New York, linked to money laundering and bribery involving former Petroleum Minister Diezani Alison-Madueke.
Both governments emphasized transparency and accountability, stating that the recovered funds will be used for electrification projects in Nigeria and anti-terrorism efforts.
They reaffirmed their commitment to combating corruption and promoting good governance through international cooperation.
