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$53m Recovered from Former Oil Minister Diezani Alison-Madueke to Fund Public Services in Nigeria
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Nigeria’s justice ministry has announced that nearly $53 million (£43 million) in recovered funds, allegedly linked to former oil minister Diezani Alison-Madueke and her associates, will be used to finance public services.

The funds, repatriated from the US, were allegedly laundered through bribes exchanged for lucrative oil contracts during Alison-Madueke’s tenure as head of Nigeria’s state oil firm. US authorities claim the money was used to acquire luxury assets, including a 65-meter superyacht, the Galactica Star, and high-end properties in California and New York.

Alison-Madueke, 64, who denies all allegations of wrongdoing, served as Nigeria’s petroleum minister from 2010 to 2015 under President Goodluck Jonathan and was the first female president of OPEC. She also held other ministerial roles in transport and solid minerals.

Her alleged ill-gotten wealth has drawn scrutiny beyond the US. In the UK, she faces bribery charges involving expensive gifts, private school fees, and cash payments exceeding $127,000.

The US Department of Justice announced the resolution of two civil cases in 2023, enabling the transfer of the $52.88 million to Nigeria. This marks the first repatriation of funds linked to Alison-Madueke from outside the country.

At a signing ceremony in Abuja, Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi, called the return of the funds a “significant step” in combating corruption. He outlined the allocation of the money:

  • $50 million will be channeled through the World Bank to support rural electrification projects.

  • $2.88 million will strengthen the justice system and promote anti-corruption initiatives through the International Institute of Justice.

US Ambassador to Nigeria Richard Mills stressed the importance of transparency and accountability in utilizing the funds. “The ministry of justice must ensure these funds are used effectively to improve the lives of Nigerians,” he said.

This is not the first time stolen funds have been returned to Nigeria. In November 2022, the US repatriated $20.6 million allegedly stolen by former military leader Gen. Sani Abacha. In 2020, Washington transferred $311.8 million linked to Abacha’s regime.

The latest recovery underscores ongoing efforts to address corruption and return misappropriated wealth to Nigeria for development purposes.

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Piers Potter
Author: Piers Potter

Piers Potter

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