The Nigerian Federal Government has finalized an agreement with the U.S. Government to repatriate approximately $52.88 million in forfeited corruption proceeds back to Nigeria. Kimiebi Ebienfa, Acting Spokesperson for the Ministry of Foreign Affairs, announced this development in a statement released in Abuja. The official agreement was signed by Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi, SAN, alongside U.S. Ambassador to Nigeria, Richard Mills Jr. This collaboration signifies a strengthened partnership and shared commitment between both nations in promoting Nigeria’s development and tackling financial crimes. The forfeited assets were recovered under the U.S. Department of Justice’s Kleptocracy Asset Recovery Initiative, aimed at retrieving funds obtained through corruption and financial misconduct. The repatriated assets, confiscated through court proceedings that concluded in 2023, include high-value items such as the luxury yacht Galactica Star and prime properties located in California and New York. These assets were reportedly acquired with laundered funds linked to bribery and corruption involving Nigeria’s former Petroleum Resources Minister, Diezani Alison-Madueke. Nigerian authorities played a crucial role in assisting U.S. investigators during the asset recovery process. Both governments have emphasized the importance of using the recovered funds responsibly, ensuring transparency and accountability. Under the terms of the agreement, the funds will be directed towards electrification projects in Nigeria and international efforts to combat terrorism. The U.S. Government reaffirmed its commitment to fighting corruption and money laundering, while Nigeria pledged to uphold accountability and good governance. This collaboration underscores the importance of international cooperation in combating corruption and ensuring the responsible use of recovered assets for the benefit of Nigerian citizens. READ ALSO:
Former Kogi State Governor, Yahaya Bello, has pleaded not guilty to a new 19-count charge filed by the Economic and Financial Crimes Commission (EFCC) at the Federal High Court in Abuja. Bello, currently in custody at Kuje prison, is accused of involvement in an N80.2 billion fraud during his tenure from 2016 to 2024. Key Allegations Against Yahaya Bello The EFCC alleges that Bello utilized five proxies to purchase luxury properties in Abuja and Dubai using funds sourced illegally. The anti-corruption agency further accused him of attempting to conceal over N3 billion through his associates. In addition, Bello is charged with transferring $700,000 to a U.S.-based account, a violation of the Money Laundering Prohibition Act. The EFCC claims that this act constitutes a breach of public trust, punishable under Sections 18(a) and (c), and Section 15 of the Money Laundering Prohibition Act. Other individuals implicated in the case include Ali Bello (the former governor’s nephew), Dauda Suleiman, Shehu Bello, Rabiu Musa, and Abdulsalam Hudu, who is reportedly at large. Bail Plea and Legal Defense Bello’s legal team, led by Senior Advocate of Nigeria (SAN) J.B. Daudu, urged the court to grant him bail, assuring that he would not flee the country. Daudu emphasized Bello’s history as a two-term governor who traveled only twice during his tenure, portraying him as a law-abiding citizen. In his defense, Bello explained his earlier absence from court, stating it was due to legal measures to challenge the court’s jurisdiction over the case. “It was not an act of disrespect but a legal approach to defend myself,” Bello said. EFCC’s Stance on Bail Request The EFCC’s counsel, Kemi Pinheiro, SAN, expressed no objection to the bail request but recommended strict conditions to ensure Bello’s attendance throughout the trial. Previous Charges This latest case follows a separate 16-count charge, for which Justice Maryann Anenih of an Abuja High Court had remanded Bello to Kuje prison. Meta Description Former Kogi State Governor Yahaya Bello pleads not guilty to EFCC’s 19-count fraud charge, with allegations of N80.2 billion fraud and money laundering. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
