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Nigeria to spend seized money on rural electrification

13 10
14.01.2025

On Friday, the government announced that millions in recovered funds linked to former Petroleum Resources Minister Diezani Alison-Madueke will be used to fund rural electrification projects across Nigeria. The announcement followed the signing of an Asset Return Agreement between Nigeria and the United States which enables the US to return nearly $52.9 million (€51.6 million) seized from the forfeiture of assets belonging to the former minister and her associates.

The agreement is significant in that it is the first repatriation of assets to Nigeria linked to Alison-Madueke. She was Nigeria's oil minister from 2010 to 2015 and became the first female president of the oil alliance OPEC.

Nigerian Justice Minister Lateef Fagbemi said the recovered funds were an example of the countries' unwavering commitment to fighting corruption. He added that "it also signifies the commitment of the United States of America to facilitating restitution and supporting integrity and accountability in governance."

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In 2017, a civil complaint filed by the US Department of Justice requested the recovery of over $100 million (€97 million) in assets suspected of being obtained through bribes to the former minister for petroleum resources.........

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