Nigeria will channel $52.9 million in recovered assets linked to former Petroleum Minister Diezani Alison-Madueke toward rural electrification projects. The funds were repatriated under an Asset Return Agreement with the US, marking the first recovery of assets linked to Alison Madueke. Of the total, $50 million will improve renewable energy access through the World Bank, targeting rural areas where only 26% have electricity. With 45% of Nigerians lacking electricity, the initiative aims to address energy deficits while signaling a commitment to accountability and governance reforms. The remainder will fund counterterrorism initiatives via the International Institute for Justice. Alison-Madueke served as Nigeria’s Petroleum Minister from 2010 to 2015 and was accused of awarding lucrative oil contracts to associates in exchange for bribes. According to court documents, the illegal proceeds were then laundered through the US and used to acquire luxury assets in New York and California. Madueke has denied the allegations.
Source: DW
