The US Set to Return $52.88m in Seized Assets from Alison Madueke

The United States of America, US has recently said that it is about to return another part of the Allison Madueke’s stolen oil funds to Nigeria.

A total amount of $52.88 million from seized assets will be transferred to Nigeria in one of the first moves by the second Trump administration.

The move is part of a corruption probe against former oil minister Diezani Alison-Madueke and associates.

President Bola Tinubu has said that $50 million will be spent on rural electrification projects via the World Bank.

Another $2.88 million will go to the international institute of justice to enhance justice system and promote anti corruption efforts.

Authorities have emphasised the need for accountability and careful monitoring of the said fund.

This not the first time allegded stolen money is repatrated to Nigeria from abroad. The US government repatrated $20.6m in November 2022 to Nigeria.

They were assets allegedly stolen by the former military leader General Sani Abacha.

Also, five years ago, during President Donald Trump’s first administration, Washington transferred more than $300 million to Nigeria as part of a previous agreement to repatriate assets tracked back to the Abacha regime.