US Returns $50m In Alleged Stolen Funds To Nigeria

The United States has returned $52.88 million in alleged stolen funds linked to Nigeria’s former oil minister, Diezani Alison-Madueke, marking a significant step in international anti-corruption efforts.

The funds, reportedly obtained through illicit activities during Alison-Madueke’s tenure as Nigeria’s petroleum resources minister from 2010 to 2015, were recovered through US civil forfeiture cases.

The US alleged that Alison-Madueke and her associates used bribery to enrich themselves, channeling funds into luxury purchases, including a $65 million superyacht and high-end properties in California and New York.

Alison-Madueke, who also served as the first female president of OPEC, has consistently denied these allegations. She has also faced corruption charges in the UK, where authorities accused her of using illicit funds for luxury goods, private school fees, and other expenditures.

At a formal signing ceremony in Abuja, Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi, announced that $50 million of the repatriated funds will support rural electrification projects through the World Bank, while $2.88 million will be directed toward strengthening the justice system and anti-corruption initiatives.

US Ambassador to Nigeria, Richard Mills, emphasized the importance of transparency and accountability in the use of the funds, urging the Nigerian government to ensure the money benefits citizens directly.

This is not the first instance of asset repatriation to Nigeria. In recent years, the US has returned significant sums linked to former military leader Gen. Sani Abacha, including $20.6 million in 2022 and $311.8 million in 2020.

These efforts reflect ongoing collaboration between the US and Nigeria to combat corruption and recover stolen public funds.