US Strikes to Repatriate $53m Linked to Diezani
The US Authorities and the Federal Republic of Nigeria have signed a memorandum of understanding to repatriate the sum of $53 million stolen funds to Nigeria.
The funds have been a part of funds of the Galactica asset linked to former Minister of Petroleum, Diezani Alison-Madueke.
Talking throughout the signing, the Legal professional Basic of the Federation and Minister of Justice, Lateef Fagbemi (SAN) stated the settlement gives that $50 million of the funds, which is about N77 billion, shall be used to fund rural electrification mission to extend the reliability and availability of renewable power in Nigeria.
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The minister added that the stability of $2.88 million shall be disbursed as a grant by Nigeria to the Worldwide Institute for Justice (IIJ) to help “the Rule of Regulation and Counter-Terrorism Mission,” via counter-terrorism capability constructing for felony justice sector practitioners in East, West, and North Africa.
Whereas commending america for his or her cooperation in direction of the restoration, he assured that measures have been put in place to make sure transparency within the utilisation of the funds.
“I wish to categorical our gratitude to america Authorities, for his or her steadfast help and cooperation on this endeavour,” Fagbemi stated.
“Your dedication to justice and the rule of regulation has been instrumental in making this settlement a actuality.
“Nevertheless, I implore you to proceed to show the same old cooperation and understanding in different pending instances of repatriation, in order that the Agreements in relation thereto will be concluded as quickly as potential, as Nigeria is in dire want of those refunds.”
In his response, the US Ambassador to Nigeria, Richard Mills expressed the federal government’s belief within the Nigerian authorities’s willpower to use the funds transparently, including that, with out it, they’d not have signed the repatriation settlement.