US Returns $53m Allegedly Stolen by Nigeria’s Ex-Oil Minister to Fund Public Services
Nearly $53 million (£43 million) in alleged illicit funds tied to Nigeria’s former oil minister, Diezani Alison-Madueke, will be channeled into public services, according to Nigeria’s justice ministry.
The funds, being repatriated from the United States, were allegedly amassed by Alison-Madueke and her associates through bribes in exchange for oil contracts during her tenure. US authorities claim the money was used to purchase extravagant items, including the 65-meter superyacht Galactica Star and luxury properties in California and New York.
Alison-Madueke, 64, who has consistently denied any wrongdoing, is also under investigation in the UK. She faces bribery charges involving cash gifts, luxury goods, and private school payments worth at least $127,000.
A prominent figure in former President Goodluck Jonathan’s administration, Alison-Madueke was the first female president of OPEC and served as Nigeria’s petroleum minister from 2010 to 2015. Before that, she held positions as minister of transport and solid minerals development.
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In 2023, the US Department of Justice concluded civil cases tied to the laundering of funds involving Alison-Madueke and her network. On Friday, the US and Nigeria formalized the return of $52.88 million, marking the first repatriation of her overseas-linked assets.
Attorney-General Lateef Fagbemi announced that $50 million of the recovered funds will be allocated through the World Bank to rural electrification projects, while $2.88 million will support anti-corruption initiatives through the International Institute of Justice.
US Ambassador Richard Mills highlighted the importance of transparency, urging the Nigerian government to ensure the funds directly benefit citizens.
The US has previously repatriated stolen assets to Nigeria, including $20.6 million in 2022 and $311.8 million in 2020, both linked to former military ruler Gen Sani Abacha.
US Returns $53m Allegedly Stolen by Nigeria’s Ex-Oil Minister to Fund Public Services
