US to Repatriate $52.88M Linked to Ex-Nigerian Oil Minister Alison-Madueke

Confidence UbaniJanuary 11, 20251 Mins read380

Diezani K. Alison-Madueke | Credit: Martin Dixon

The United States and Nigeria have formally agreed to return $52.88 million linked to former Petroleum Minister Diezani Alison-Madueke and her associates.

The agreement was signed on Friday in Abuja by Nigerian Justice Minister Lateef Fagbemi and U.S. Ambassador Richard Mills, Jr. This marks the first repatriation of assets tied to Alison-Madueke outside Nigeria. The funds were recovered from forfeited assets, including the luxury yacht Galactica Star, following a 2017 U.S. Justice Department civil complaint.

[The agreement enables] the repatriation of approximately $52.88 million arising from the forfeiture of the Galactica assets, linked to the former Petroleum Resources Minister Diezani Alison-Madueke and her associates, Minister Fagbemi said.

Diezani Alison-Madueke served as Nigeria’s Minister of Petroleum Resources from 2010 to 2015 under former President Goodluck Jonathan. In 2014, she earned International recognition as the first woman to lead the Organization of the Petroleum Exporting Countries (OPEC). However, her tenure was linked to large-scale corruption, including claims of receiving bribes and embezzling public funds.

The U.S. complaint alleged that Alison-Madueke laundered funds and acquired assets using bribe proceeds while controlling Nigeria’s state oil company, NNPC Ltd. While she has previously denied allegations of corruption, investigations into her activities are ongoing in Nigeria, the United States, and the United Kingdom, where she is believed to reside.

This development follows an October 2022 ruling by a Nigerian court, which ordered the final forfeiture of properties and luxury vehicles linked to Alison-Madueke. The Justice Minister assured Nigerians that measures are in place to ensure transparency in using the repatriated funds. According to him, $50 million will fund rural electrification projects through the World Bank. The remaining $2.88 million will be allocated as a grant to the International Institute for Justice to build counterterrorism capacity.