The Nigerian government has received $52.88m recovered Galactica assets, linked to former Minister of Petroleum Resources, Diezani Alison-Madueke, from the United States.
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.
Delivering his remarks, Fagbemi explained that $50m of the recovered assets will be deployed through the World Bank for the rural electrification projects and the remaining $2m will be deployed to the International Institute of Justice to expand the justice system and also counter corruption.
Fagbemi also noted that the recovered assets marked a milestone in the ongoing collaboration between Nigeria and America 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.
The United States Ambassador to Nigeria, Richard Mills, emphasised the importance of monitoring and effectively utilising the recovered assets by the Ministry of Justice to benefit the Nigerian people.
Weāve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Donāt settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates ā
Join Our WhatsApp Channel
