FG receives $52m Diezani Alison-Madueke’s loot from US in boost for scarce forex

In what can be described as a boost for scarce foreign exchange in the economy, the Nigerian government has received $52.88 from the United States of America (USA) classified as ‘recovered assets’ from Diezani Alison-Madueke, Nigeria’s former petroleum minister under the administration of former President Goodluck Ebele Jonathan.

Lateef Fagbemi, attorney-general of the federation and minister of justice, confirmed this at the formal signing ceremony of the asset agreement between the two countries in Abuja on Friday.

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Fagbemi explained that $50 million of the recovered assets would be deployed through the World Bank to develop rural electrification projects, while the remaining $2 million would be used by the International Institute of Justice to expand the justice system and combat corruption.

According to the minister, the returned asset boosts the Nigerian government’s ongoing effort to stem corruption, which is being supported by the United States government.

Richard Mills, the United States Ambassador to Nigeria, on his part, demanded the judicious use of the recovered assets to benefit Nigerians.