The Federal Government of Nigeria has signed an agreement with the United States (U.S) government to receive $52.88m recovered Galactica assets, linked to a former Minister of Petroleum Diezani Alison-Madueke.
The Attorney-General of the Federation and Minister of Justice Lateef Fagbemi disclosed this at the formal signing ceremony of the asset agreement between Nigeria and the United States of America in Abuja on Friday.
Fagbemi in his remarks explained that $50m of the recovered assets will be deployed through the World Bank to the development of 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.
He further noted that the asset return marked 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 was also a significant effort by President Bola Tinubu to address the issue of corruption.
On his part, the United States Ambassador to Nigeria, Richard Mills called for the monitoring and effectively utilizing the recovered assets by the Ministry of Justice to benefit Nigerians.
