The Nigerian government has officially received $52.88 million in assets linked to former Petroleum Minister Diezani Alison-Madueke, recovered from the United States.

This milestone was announced during a formal asset agreement signing ceremony in Abuja on Friday by Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi.

Fagbemi revealed that $50 million of the recovered funds will be allocated to the World Bank to support the country’s rural electrification initiative, while the remaining $2 million will be directed to the International Institute of Justice to enhance the justice system and combat corruption.

He emphasized that the asset recovery marks a significant step in the ongoing partnership between Nigeria and the United States in the fight against corruption and the promotion of the rule of law.

“It is also seen as a key initiative by President Bola Tinubu’s administration to tackle corruption head-on,” he added.

U.S. Ambassador to Nigeria, Richard Mills, in his remarks, urged the Nigerian government to ensure the recovered assets are carefully monitored and effectively utilized to benefit the Nigerian people.