The Nigerian government has announced that $52.88 million recovered from former Petroleum Resources Minister, Diezani Alison-Madueke, will be utilized to fund critical rural electrification and counter-terrorism projects.
Attorney General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi, SAN, revealed that $50 million of the recovered funds will be deployed through the World Bank to boost the reliability and availability of renewable energy in rural areas. The remaining $2.88 million will be granted to the International Institute for Justice (IIJ) to enhance counter-terrorism capacity building for criminal justice practitioners across Africa.
Fagbemi disclosed this during the signing of a Memorandum of Understanding (MoU) between Nigeria and the United States in Abuja on Friday. He emphasized that the projects would contribute significantly to socio-economic development while upholding transparency and accountability.
“This robust framework will ensure the funds are utilized transparently by the World Bank and IIJ, with periodic reports provided to both Nigeria and the U.S.,” Fagbemi stated, highlighting the collaborative efforts between both nations to fight corruption and promote accountability.
The U.S. Ambassador to Nigeria, Richard M. Mills Jr., lauded the agreement and urged the Nigerian government to intensify its anti-corruption efforts, pledging continued support in recovering stolen funds for developmental purposes.
This move underscores President Bola Ahmed Tinubu’s commitment to combating corruption and prioritizing national development.
