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Breaking : US govt returns $52.88m seized from Diezani, associates to Nigeria
Nigeria and the United States on Friday executed an Asset Return Agreement (ARA) for the repatriation of approximately $52.88million arising from the forfeiture of the Galactica assets, linked to the former Petroleum Resources Minister, Diezani Alison-Madueke and her associates.
The Attorney General of the Federation (AGF), Lateef Fagbemi (SAN) signed for Nigeria while the Ambassador of the United States, Richard M. Mills Jr. signed for his country.
By the agreement, $50m of the repatriated funds will be utilized through the World Bank, to partly fund the Rural Electrification Project to increase the reliability and availability of renewable energy in Nigeria.
The balance of $2.88m will be disbursed as a grant by Nigeria to the International Institute for Justice (IIJ) to support “the Rule of Law and Counter-Terrorism Project,” through counter-terrorism capacity building for Criminal Justice Sector Practitioners in East, West, and North Africa.
The AGF said was optimistic that the projects to which funds will be applied, will no doubt contribute in no small measure to creating the enabling environment for socio-economic growth and development.
Fagbemi explained that measures have been put in place to ensure that the repatriated funds are not only disbursed, but also utilized transparently and accountably by the World Bank and IIJ, with periodic reports to be forwarded to Nigeria and the US on the implementation of the projects.
He added: “This robust framework will guarantee that the funds are effectively used for the full benefit of the Nigerian people in line with the United Nations Convention against Corruption (UNCAC) and the Global Forum on Asset Recovery (GFAR) principles.”
The AGF said the agreement is not only a testament to the unwavering commitment of both nations to fight corruption, it also signifies the commitment of the United States of America to facilitating restitution and supporting integrity and accountability in governance.
Fagbemi added: “The collaboration between Nigeria and the United States is underpinned by our shared values and mutual respect, and this has been pivotal in facilitating this agreement.
“This partnership highlights the importance of international cooperation in addressing the global scourge of corruption, which is also linked to trans-border crimes.
“It underscores the obligations and commitments enshrined in the UNCAC and the Proceeds of Crime (Recovery and Management) Act (POCA), which guide our collective efforts to ensure that stolen assets are returned and used for the benefit of our citizens.”
The AGF, who commended the US government for its efforts, urged the country to continue to demonstrate the usual cooperation and understanding in other pending cases of repatriation, so that the agreements in relation thereto can be concluded as soon as possible, as Nigeria is in dire need of these refunds.
He said the signing of the agreement on Friday was “a significant affirmation of the resolve of President Bola Ahmed Tinubu to build a Nigeria that is free from the shackles of corruption, and to ensure available resources are devoted to socio-economic development of our nation.
“It is a clarion call to all stakeholders—both domestic and international—to continue working together to uphold the principles of integrity, transparency, and accountability.”
Senator Ifeanyi Araraume, a prominent chieftain of the All Progressives Congress (APC), has extended warm felicitations to Muslims in Nigeria and across the globe on the joyous occasion of Eid-el-Fitr.
In a statement to mark the end of Ramadan, Araraume highlighted the significance of the month long period of spiritual reflection, fasting, and devotion. “As Muslims gather with loved ones to share in the festivities, I join in the cheer, wishing everyone a blessed and peaceful Eid,” he said.
The Senator expressed profound appreciation to Muslim Nigerians for their contributions to the nation’s growth, describing their faith, resilience, and patriotism as beacons of hope. “Your unwavering commitment to Nigeria’s progress is truly commendable,” he stated.
As the country navigates its current challenges, Araraume called for unity, understanding, and collective effort. “Let us embrace the spirit of Eid, forgiveness, generosity, and kindness, to build a brighter future for ourselves and generations to come,” he urged.
Araraume also extended solidarity to President Bola Tinubu, a distinguished Muslim and the leader of APC, praising his visionary leadership and dedication to nation building. “President Tinubu’s commitment to serving Nigeria has been exemplary, and we assure him of our continued support,” he said.
Reaffirming the APC’s commitment to national prosperity, Araraume emphasized that the values of compassion, unity, and progress embodied by Eid align deeply with the party’s ethos. “As we mark this occasion, we reaffirm our dedication to creating a Nigeria where faith and ethnic background are not barriers to success,” he concluded.
President Bola Tinubu is currently meeting with United Kingdom Prime Minister Keir Starmer in a high-level bilateral engagement aimed at strengthening ties between Nigeria and Britain.
A statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Monday, said the meeting will culminate in the signing of various Memoranda of Understanding and agreements, including those on trade, investment, defence, and cultural cooperation.
The statement said the meeting reinforces Nigeria’s commitment to deepening bilateral relations, attracting foreign investment, and modernising key infrastructure to support economic growth.
It added that a major highlight of the visit was the signing of a £746 million financing agreement between UK Export Finance, the Nigerian Ports Authority, and the Federal Ministry of Finance.
Morning Recap: Nigeria, Britain set for fresh security alliances, Saudi Arabia declares Friday Eid-el-Fitr, other top stories
The statement said the deal will fund the refurbishment of two key maritime infrastructures — the Lagos Port Complex (Apapa Quays) and the Tin Can Island Port Complex.
The President and the First Lady had earlier been the guests of their Majesties King Charles III and Queen Camilla at Windsor Castle.
Tinubu was accompanied by a high-profile delegation, including Senate President Godswill Akpabio; Attorney General and Minister of Justice, Prince Lateef Fagbemi; Minister of Solid Minerals, Dele Alake; Minister of Information and National Orientation, Idris Mohammed; and Minister of State for Foreign Affairs, Ambassador Bianca Ojukwu.
Other members of the delegation include Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole; Minister of Culture and Creative Economy, Hannatu Musawa; Minister of Communications and Digital Economy, Bosun Tijani; Minister of Defence, Gen. Christopher Musa; National Security Adviser, Malam Nuhu Ribadu; and Director-General of the National Intelligence Agency, Mohammed Mohammed.
Morocco have been officially crowned champions of the 2025 Africa Cup of Nations after the CAF Appeal Board overturned the result of the final against Senegal. The decision comes after extraordinary scenes in Rabat where the Lions of Teranga walked off the pitch in protest, leading to a retrospective 3-0 forfeit victory for the host nation.
In a detailed statement, the CAF Appeal Board confirmed that the appeal lodged by the FRMF was “declared admissible in form and the appeal is upheld.” This landmark ruling effectively strips Senegal of what would have been their second continental crown, rewarding the hosts for a match that descended into chaos during extra time.
The roots of the controversy lie in a heated moment deep into stoppage time when Morocco’s Brahim Diaz went down in the box. While the referee initially waved play away, a VAR review resulted in a spot-kick for the hosts. This sparked a furious reaction from the Senegalese bench, with head coach Pape Thiaw instructing his players to return to the dressing room in a protest that lasted several minutes.
The CAF Appeal Board found that “the conduct of the Senegal team falls within the scope of Articles 82 and 84 of the Regulations of the Africa Cup of Nations.” By leaving the field of play, Senegal was deemed to have infringed on the regulations, leading to the administrative 3-0 defeat. The ruling sets aside the previous CAF Disciplinary Board decision and confirms that the protest lodged by Morocco has been fully upheld
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