By : Lloyd Mahachi 

The United States government has returned millions of dollars in alleged stolen funds to Nigeria, marking a significant step in the country’s efforts to combat corruption. The funds were recovered from Nigeria’s former oil minister, Diezani Alison-Madueke, and others. Alison-Madueke has been dogged by corruption allegations since leaving office, which she denies.

The US authorities allege that Alison-Madueke enriched herself and others while leading Nigeria’s state oil firm by awarding contracts in exchange for bribes. The money was then used to buy a 65-meter superyacht called the Galactica Star, as well as multiple luxury properties in California and New York. The Galactica Star is a luxurious yacht that features six decks, a swimming pool, and a helicopter pad.

Alison-Madueke’s alleged ill-gotten gains are also under scrutiny in the UK, where she was charged with bribery offenses two years ago. These offenses include gifts of Louis Vuitton luxury goods, payment of private school fees, and at least $127,000 in cash. The UK authorities have been investigating Alison-Madueke’s financial dealings for several years, and her case has sparked widespread outrage and calls for greater transparency and accountability.

The US Department of Justice announced the final resolution of two civil cases on the forfeiture of assets reportedly laundered in and through the US by Alison-Madueke and her associates. The US and Nigeria confirmed that $52.88 million would be repatriated to Nigeria, with $50 million going towards rural electrification projects and $2.88 million towards strengthening the justice system and promoting anti-corruption efforts.

The return of the funds is seen as a significant step in Nigeria’s efforts to combat corruption. Attorney-General and Minister of Justice Lateef Fagbemi emphasized the importance of transparency and accountability in the use of the returned funds. Fagbemi noted that the Nigerian government is committed to ensuring that the funds are used for the benefit of the Nigerian people.

US Ambassador to Nigeria Richard Mills also stressed the need for careful monitoring of the funds to ensure they are used effectively to improve the lives of Nigerians. Mills noted that the US government is committed to supporting Nigeria’s efforts to combat corruption and promote good governance.

This is not the first time the US has repatriated funds to Nigeria. In November 2022, the US government returned $20.6 million in assets allegedly stolen by former Nigerian military leader Gen Sani Abacha. Five years ago, Washington transferred $311.8 million to the Nigerian government as part of a previous agreement to repatriate assets linked to the Abacha regime.

The return of the funds is a significant milestone in the fight against corruption in Nigeria. It demonstrates the commitment of the Nigerian government to recovering stolen assets and using them for the benefit of the Nigerian people. It also highlights the importance of international cooperation in the fight against corruption.

Editor : Josephine Mahachi