The Nigerian government has said that the $52.88 million recovered from former Petroleum Resources minister, Diezani Allison- Madueke, would be used to fund rural electrification projects across the country.
The utilization of the money on the rural electrification project would be handled by the World Bank on behalf of the country.
Attorney General of the Federation and Minister of Justice, AGF, Prince Lateef Fagbemi, while shedding light on how the recovered money would be used also revealed that it would be partly used to support “the Rule of Law and Counter-Terrorism Project” through the International Institute for Justice, IIJ.
At the signing of a Memorandum of Understanding with the United States for the release of the loot, Fagbemi said channelling the money to electricity project would ensure increase in the reliability and availability of renewable energy in Nigeria.
The MoU was signed in Abuja on Friday by Fagbemi on behalf of the Federal Government while the American Ambassador to Nigeria, Mr Richard M. Mills Jr., signed on behalf of his country.
