$52.88m recovered Galactica assets, linked to a former Minister of Petroleum Diezani Alison-Madueke from the USA has been received by the Nigerian government.
Justice Lateef Fagbemi, Attorney-General of the Federation (AGF) and Minister of Justice stated this at the formal signing ceremony of the asset agreement between Nigeria and the United States of America in Abuja on Friday.
While delivering his remarks, Fagbemi explained that $50m of the recovered assets will be deployed through the World Bank for the rural electrification project and the remaining $2m will be deployed to the International Institute of Justice to expand the Justice system and also counter corruption.
Fagbemi further stated that the asset return marks a milestone in the ongoing collaboration between Nigeria and the United States in combating corruption and upholding the rule of law
He said the event is also a significant effort by President Bola Tinubu to address the issue of corruption.
In his remarks, the United States Ambassador to Nigeria, Richard Mills called for the monitoring and utilisation of the recovered assets for the benefit of Nigerians.
Uzoamaka Ikezue, a Lagos-based award-winning journalist is a senior staff writer with the West African Pilot News (WAP).WAP is a political, community, and business-focused, English-language international news site based in Houston, Texas, United States.
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