Raphael Oni
Abuja, Nigeria – The Federal Government of Nigeria and the United States Government have agreed on the repatriation of approximately $52.88 million in forfeited corruption proceeds, according to a press release issued by the Ministry of Foreign Affairs, Abuja (MFA/PR/2025/03).
The agreement, signed recently, marks a significant milestone in the ongoing collaboration between Nigeria and the United States to combat corruption and recover misappropriated assets. The forfeited funds were recovered as part of the Kleptocracy Asset Recovery Initiative of the U.S. Department of Justice.
The press release, signed by Kimiebi Imomotimi Ebienfa, Acting Spokesperson, Ministry of Foreign Affairs, Abuja, stated that Nigerian authorities played a vital role in providing substantial assistance to the U.S. investigation, which led to the successful forfeiture of various high-value assets. These assets included the luxurious superyacht Galactica Star and prime real estate in California and New York.
The repatriated funds will be utilized to finance electrification projects in Nigeria and support international efforts to combat terrorism. Both governments have reiterated their commitment to transparency and the responsible use of recovered assets, ensuring that these funds benefit the Nigerian people.
The agreement underscores the importance of international cooperation in the fight against corruption and reinforces the enduring partnership between Nigeria and the United States.
