Jan 25, 2025, 7:50 AM
The US Set to Return $52.88m in Seized Assets from Alison Madueke
For the third time, the US is honouring its agreements to return stolen assets and funds to Nigeria.
Nigeria is set to receive another part of the stolen money recovered from Allison Madueke.
President Bola Tinubu
Culturays
The US Set to Return $52.88m in Seized Assets from Alison Madueke
the-us-set-to-return-52-88m-in-seized-assets-from-allison-maduekes
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.
Next
Summary
Fri May 09 2025
The explosion and a suspected attack on the Trans-Niger Pipeline, TNP, have warranted a state of emergency in Rivers State. President Bola Tinubu made the announcement Tuesday, where he also suspended the current administration as well as, instated a new leader, Vice Admiral Ibokette Ibas, for six months to run the affairs of the state.
A Nigerian presidential aide placed a verdict on a corps member, Rita, saying that she should face capital punishment for calling the president terrible. Rita was summoned by her NYSC LGA, and she is getting assistance from Omoyele Sowore and his lawyers.
