The Federal Government of Nigeria has received $52.88 million in recovered assets linked to a former Minister of Petroleum, Diezani Alison-Madueke, from the United States of America.

The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, made this known during the formal signing ceremony of the asset agreement between Nigeria and the USA in Abuja on Friday.

He explained that $50m of the recovered assets would be deployed through the World Bank for the development of rural electrification projects.

Fagbemi also said the remaining $2m would be used by the International Institute of Justice to expand the justice system and combat corruption.

He further noted that “the asset return marks a milestone in the ongoing collaboration between Nigeria and the USA to combat corruption and uphold the rule of law.”

The Justice Minister also described the event as “a significant step by President Bola Tinubu in addressing corruption” in Nigeria.

In his remarks, the US Ambassador to Nigeria, Richard Mills, called for effective utilisation and monitoring of the recovered assets by the Federal Government for the benefit of the people of the country.

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