INDEPENDENT NG
The Federal Government of Nigeria has announced plans to use about $50 million of the $53 million repatriated from the United States for rural electrification projects across the country. The assets are reportedly linked to former Petroleum Resources Minister, Mrs. Diezani Alison-Madueke, and her associates.
The announcement was made by the Attorney-General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi (SAN), during the signing ceremony of the Asset Return Agreement between Nigeria and the United States. The event took place on Friday in Abuja.
Fagbemi emphasized that the deployment of the recovered funds would boost the availability and reliability of renewable energy in Nigeria, helping to provide electricity to underserved rural areas. He further noted that this step aligns with President Bola Tinubu’s commitment to combat corruption and promote socio-economic development within the country.
“This partnership highlights the importance of international cooperation in fighting corruption and trans-border crimes,” Fagbemi said. He also mentioned the agreement’s significance under the United Nations Convention against Corruption (UNCAC) and the Proceeds of Crime (Recovery and Management) Act (POCA). The $50 million will be allocated through the World Bank to fund the Rural Electrification Project, while the remaining $2.88 million will be used as a grant to the International Institute for Justice (IIJ) for counter-terrorism efforts in Africa…
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