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Which sector will primarily benefit from the $52.88 million repatriated for rural electrification in Nigeria by December 2025?
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Reports from Nigerian government or international organizations monitoring the projects
Story
US and Nigeria Sign Agreement to Repatriate $52.88 Million in Stolen Assets for Rural Electrification; $110 Million Linked to Diezani Alison-Madueke
Jan 14, 2025, 11:00 PM
On January 13, 2025, the United States and Nigeria signed an agreement to repatriate approximately $52.88 million in assets forfeited due to corruption linked to former Nigerian oil minister Diezani Alison-Madueke and her associates. The repatriated funds, which are part of a larger recovery effort, will be allocated to rural electrification projects in Nigeria. The agreement was confirmed by various sources, including the U.S. Federal Bureau of Investigation, which emphasized that the funds are intended to benefit the Nigerian populace. Additionally, on January 15, Nigeria's Attorney General, Lateef Fagbemi, announced the recovery of $110 million in assets from various countries, indicating ongoing efforts to combat corruption and recover stolen wealth.
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