US to return R1bn in assets forfeited by ex-Nigerian oil minister

Nigeria and the US signed an agreement on Friday to repatriate about $52.88m (R1.01bn) in assets forfeited by former Nigerian oil minister Diezani Alison-Madueke and her associates.

The agreement opens the way for the first repatriation to Nigeria of assets outside the West African country linked to Alison-Madueke.

Nigerian justice minister Lateef Fagbemi said the agreement with the US enables "the repatriation of approximately $52.88m arising from the forfeiture of the Galactica assets, linked to the former petroleum resources minister Diezani Alison-Madueke and her associates".

The agreement follows a 2017 civil complaint filed by the US justice department aimed at recovering about $144m (R2.76bn) in assets allegedly obtained through bribes to the former minister.

The lawsuit alleged that two Nigerian businessmen conspired with others to pay bribes to Alison-Madueke, who oversaw the country's state-owned oil firm NNPC.

Alison-Madueke, whose whereabouts are unclear but was last known to be in Britain, has previously denied corruption charges against her.

She was minister under former president Goodluck Jonathan from 2010 until May 2015.

The funds will be used to support rural electrification projects through the World Bank, with $50m (R959.1m) allocated to increasing access to renewable energy, Fagbemi said.

The remaining $2.88m (R55.2m) will be disbursed as a grant by Nigeria to the International Institute for Justice to support counterterrorism capacity across Africa, he said.

In October 2022 a Nigerian court ordered a final seizure of two properties and cars owned by Alison-Madueke.