Abuja, Nigeria – The United States government has signed a Memorandum of Understanding (MoU) with Nigeria for the repatriation of $53 million linked to the former Minister of Petroleum Resources, Diezani Alison-Madueke.
The funds, associated with the Galactica asset, will be used to finance development projects in Nigeria, according to the terms of the agreement. Speaking at the signing ceremony, Nigeria’s Attorney General and Minister of Justice, Lateef Fagbemi (SAN), disclosed that $50 million—approximately ₦77 billion—will be allocated to a rural electrification project aimed at improving the availability and reliability of renewable energy in the country.
The remaining $2.88 million will be provided as a grant by Nigeria to the International Institute for Justice (IIJ). The grant will support the “Rule of Law and Counter-Terrorism Project,” focusing on building counter-terrorism capacity for criminal justice practitioners in East, West, and North Africa.
Fagbemi commended the United States for its collaboration in recovering the stolen funds, assuring that measures are in place to ensure the funds’ transparent utilization. “I would like to express our gratitude to the United States Government for their steadfast support and cooperation in this endeavour,” Fagbemi said.
He urged the U.S. to continue its cooperation in other pending repatriation cases. “Nigeria is in dire need of these refunds,” he added, calling for the swift conclusion of agreements in other cases.
In his remarks, U.S. Ambassador to Nigeria, Richard Mills, expressed confidence in Nigeria’s commitment to transparency in managing the funds. He noted that the U.S. would not have signed the agreement without this assurance.
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