The United States and Nigeria have reached an agreement to repatriate approximately $52.88 million in forfeited corruption proceeds. These funds, part of the Kleptocracy Asset Recovery Initiative by the U.S. Department of Justice, were seized following investigations into money laundering and bribery linked to former Nigerian Petroleum Resources Minister Diezani Alison-Madueke.
The forfeiture involved high-value assets such as the superyacht Galactica Star and prime real estate in California and New York. The U.S. Department of Justice’s Money Laundering and Asset Recovery Section, alongside the FBI's International Corruption Unit and IRS Criminal Investigation, led these efforts with substantial assistance from Nigerian authorities.
Both countries stress the need for transparency and accountability in utilizing these funds. They have agreed that the recovered money will support electrification projects in Nigeria and international anti-terrorism initiatives.
"The U.S. Government remains steadfast in its commitment to combatting corruption and money laundering," according to a joint statement from both governments.
Nigeria also expressed its dedication to "promoting accountability and good governance," highlighting international cooperation's role in fighting corruption.
This agreement is seen as a significant step forward in the collaboration between Nigeria and the United States against corruption, with both nations emphasizing their shared investment in Nigeria’s development through responsible asset use.
