Nigeria will channel $52.9 million in recovered property linked to former Petroleum Minister Diezani Alison-Madueke towards rural electrification initiatives. The funds had been repatriated underneath an Asset Return Settlement with the US, marking the primary restoration of property linked to Alison Madueke. Of the whole, $50 million will enhance renewable power entry via the World Financial institution, concentrating on rural areas the place solely 26% have electrical energy. With 45% of Nigerians missing electrical energy, the initiative goals to deal with power deficits whereas signaling a dedication to accountability and governance reforms. The rest will fund counterterrorism initiatives by way of the Worldwide Institute for Justice. Alison-Madueke served as Nigeria’s Petroleum Minister from 2010 to 2015 and was accused of awarding profitable oil contracts to associates in alternate for bribes. In line with courtroom paperwork, the unlawful proceeds had been then laundered via the US and used to amass luxurious property in New York and California. Madueke has denied the allegations.
Supply: DW