The United States and Nigeria have signed a memorandum of understanding (MoU) to repatriate $53 million in funds linked to former Minister of Petroleum Resources, Diezani Alison-Madueke.
The agreement was formalized in Abuja, marking another milestone in efforts to recover stolen assets.
The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), stated that $50 million of the funds—approximately 77 billion naira—will be allocated to rural electrification projects aimed at enhancing the reliability and availability of renewable energy in Nigeria.
The remaining $2.88 million will be granted to the International Institute for Justice (IIJ) to support its “Rule of Law and Counter-Terrorism Project.”
This initiative focuses on building counter-terrorism capacity for criminal justice practitioners across East, West, and North Africa.
“We are deeply grateful to the United States Government for their steadfast support and cooperation in this endeavor,” Fagbemi said during the signing ceremony.
He emphasized the Nigerian government’s commitment to ensuring the transparent utilization of the repatriated funds and urged continued collaboration on other pending asset recovery cases.
US Ambassador to Nigeria, Richard Mills, commended Nigeria’s determination to use the recovered assets effectively and transparently. “Our trust in your government’s commitment to transparency and accountability is why we signed this agreement,” Mills said.
This development marks another step in ongoing efforts to recover and repurpose stolen public funds for national development. The United States and Nigeria have pledged to strengthen cooperation on other outstanding repatriation cases.
