The US and Nigerian governments have agreed on methods to repatriate about $52.88m proceeds of corruption linked to former Nigerian Petroleum Minister Diezani Alison-Madueke and her associates.
Under the agreement, $50 million of the repatriated funds will be dedicated to the Distributed Access Through Renewable Energy Scale-Up (DARES) project. The initiative, managed by the Nigerian Rural Electrification Agency and supported by the International Development Association, aims to expand access to renewable energy across Nigeria, with a focus on public institutions. The remaining $2.88 million will support Nigeria’s contribution to the International Institute for Justice and the Rule of Law (IIJ).
To ensure transparency, the $50 million allocated for electrification will be managed through a World Bank trust fund, subject to rigorous oversight, auditing, and public reporting. The IIJ projects will also be subject to external auditing and regular progress updates to maintain accountability.
The agreement was signed in Abuja, Nigeria, by US Ambassador Richard M. Mills Jr and Nigerian Attorney General Lateef O. Fagbemi. Both governments expressed their shared commitment to responsible governance, emphasizing that the recovered funds will directly benefit the Nigerian people.
The funds were seized under the US Kleptocracy Asset Recovery Initiative, which uncovered a conspiracy run by Nigerian businessmen who paid bribes to Alison-Madueke. In return, the former minister “used her influence to steer lucrative oil contracts” in favor of companies owned by the businessmen. The investigation found that proceeds from the bribery and money laundering had been used to acquire luxury assets, including a superyacht and prime real estate in California and New York.
