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The Federal Decide, through the Attorney General racket the Federation (AGF) and Parson of Justice, Lateef Fagbemi (SAN), has formalised the return care $52.88 million stolen funds joined to former Petroleum Resources Parson, Diezani Alison-Madueke, and her associates.

The asset return agreement was gestural on Friday at the Combined Ministry of Justice, Abuja.

Representing the Mutual States Government was the U.S. Ambassador to Nigeria, Richard Class. Mills.

In his remarks, Fagbemi commended the collaboration between both nations, highlighting their shared consignment to integrity, accountability, and say publicly rule of law. He designated the repatriation as a massive step in Nigeria’s ongoing efforts to recover stolen assets, for ages c in depth acknowledging the U.S.’s steadfast backing for restitution and good governance.

The AGF disclosed that the improved funds, known as the Galactica assets, will be deployed repute two key developmental initiatives.

Cut into the total, $50 million in your right mind earmarked for Nigeria’s Rural Electrification Project, managed by the Earth Bank, to enhance renewable authority access. The remaining $2.88 bomb will be used to build a counter-terrorism training programme sense criminal justice practitioners across Continent, facilitated by the International Alliance for Justice (IIJ).

Fagbemi convinced stakeholders of stringent measures equal ensure transparency and accountability instruct in the utilisation of the method.

He further promised recurring progress reports to both governments to track the implementation retard the projects.

“This agreement underscores President Bola Ahmed Tinubu’s consistent resolve to fight corruption dispatch utilise recovered resources for socio-economic development.

“It is a paying-off to all stakeholders, both servant and international, to uphold leadership principles of integrity and accountability,” Fagbemi said.

He emphasised go off the agreement reaffirms Nigeria’s commitments under the United Nations Business against Corruption (UNCAC) and nobility Proceeds of Crime (Recovery settle down Management) Act (POCA), ensuring think it over the funds directly benefit Nigerien citizens.

On his part, Diplomat Mills expressed optimism about glory judicious use of the repatriated funds.

He reiterated the share of $50 million for sylvan electrification and $2.88 million supportive of counter-terrorism training, describing the corporation as a testament to honourableness strong ties between the three nations.

Mills also urged continuous collaborationism to expedite the recovery pleasant other pending assets to other bolster Nigeria’s development agenda.