US to return $52.88 million in property forfeited by ex-Nigerian oil minister

By Camillus Eboh

ABUJA (Reuters) -Nigeria and the USA signed an settlement on Friday to repatriate about $52.88 million in property forfeited by former Nigerian oil minister Diezani Alison-Madueke and her associates.

The settlement opens the best way for the primary repatriation to Nigeria of property outdoors the West African nation linked to Alison-Madueke.

Nigerian Justice Minister Lateef Fagbemi mentioned the settlement with the U.S. allows “the repatriation of roughly $52.88 million arising from the forfeiture of the Galactica property, linked to the previous Petroleum Assets Minister Diezani Alison-Madueke and her associates.”

The settlement follows a 2017 civil criticism filed by the U.S. Justice Division aimed toward recovering about $144 million in property allegedly obtained via bribes to the previous minister.

The lawsuit alleged that two Nigerian businessmen conspired with others to pay bribes to Alison-Madueke, who oversaw the nation’s state-owned oil agency NNPC Ltd.

Alison-Madueke, whose whereabouts are unclear however was final identified to be in Britain, has beforehand denied corruption costs towards her.

She was minister underneath former president Goodluck Jonathan from 2010 till Might 2015.

The funds will probably be used to help rural electrification initiatives via the World Financial institution, with $50 million allotted to growing entry to renewable power, Fagbemi mentioned.

The remaining $2.88 million will probably be disbursed as a grant by Nigeria to the Worldwide Institute for Justice to help counter-terrorism capability throughout Africa, he mentioned.

In Oct. 2022 a Nigerian court docket ordered a ultimate seizure of two properties and automobiles owned by Alison-Madueke.