By Nigeria Recovers $52.88 Million Galactica Assets Linked to Ex-Petroleum Minister
Ghazali Ibrahim
The Nigerian government has successfully recovered $52.88 million in Galactica assets linked to former Petroleum Minister Diezani Alison-Madueke, handed over by the United States on Friday.
Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, made the announcement during a formal signing ceremony in Abuja.
The assets recovered were part of the country loots linked to the former minister of petroleum, Alison Madueke’s name and it was handled back to Nigerian government as a sign of good gesture and cooperation towards fighting corruption by the United States Ambassador to Nigeria, Richard Mills.
He revealed that $50 million of the funds will be channeled through the World Bank to support rural electrification projects, while the remaining $2.88 million will be allocated to the International Institute of Justice for strengthening the justice system and advancing anti-corruption efforts.
“This asset return represents a significant milestone in the partnership between Nigeria and the United States to combat corruption and uphold the rule of law,” Fagbemi stated.
He emphasized that the recovery aligns with President Bola Tinubu’s commitment to eradicating corruption and ensuring efficient use of public funds.
U.S. Ambassador to Nigeria, Richard Mills, also highlighted the importance of accountability in the utilization of the recovered assets. “The Ministry of Justice must ensure these funds are utilized effectively and transparently to improve the lives of Nigerians,” Mills urged.
