Alison-Madueke’s loot: SERAP writes Trump, seeks return of stolen assets

Diezani Alison-Madueke, former Petroleum Minister

Mrs Diezani Alison-Madueke

By Isa Isawade

Socio-Economic Rights and Accountability Project (SERAP) has written to US President-elect Donald Trump to ensure that his incoming administration “promptly identify US-based proceeds of corruption traced to former and current Nigerian public officials and their associates”.

SERAP also asked Trump to ensure the full recovery and return of any such stolen assets to Nigeria.

It advised that any return of proceeds of corruption from Nigeria must meet strict transparency and accountability standards to ensure the funds are used solely for the benefit of the Nigerian people.

SERAP urged him to “direct the US Department of Justice to promptly initiate civil asset forfeiture proceedings against proceeds of corruption traced to former and current Nigerian public officials and their associates to fulfil several non-controversial commitments by the US to assist Nigeria in asset recovery matters.

“To identify and publish the names of former and current Nigerian public officials suspected to be responsible for corruption and the depositing of its proceeds in US banks, and to apply existing US presidential proclamations to temporarily ban such officials from entering the US.”

In the letter dated 18 January 2025 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “Socio-Economic Rights and Accountability Project (SERAP) has written to US President-elect Donald Trump to ensure that his incoming administration “promptly identify US-based proceeds of corruption traced to former and current Nigerian public officials and their associates”.looted assets and other recently returned assets represent a tiny fraction of the over $500 billion that have been reportedly stolen from Nigeria and located in the US or otherwise subject to US jurisdiction.”

SERAP assured that its requests were in the public interest, and in keeping with the requirements of the UN Convention against Corruption to which both the US and Nigeria are parties.

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According to SERAP, “Proceeds of corruption from Nigeria continue to be deposited in US banks or other locations subject to US jurisdictions.”

The request followed the recently returned $52.88 million in forfeited corruption proceeds linked to former Petroleum Resources Minister Diezani Alison-Madueke.

The letter, read in part: “We hope you and your incoming government address the legal impediments that have continued to allow corrupt Nigerian government officials to deposit and conceal their ill-gotten assets in the US and other locations subject to US jurisdiction.

“Returning proceeds of corruption to Nigeria is a development imperative. By returning proceeds of corruption to Nigeria, the US would be contributing to the efforts to address the growing poverty in the country and achieve the Sustainable Development Goals.

“The US has the obligations under the relevant provisions of the UN Convention against Corruption to trace, freeze and seize proceeds of corruption from Nigeria and located in the US or otherwise subject to US jurisdiction and to return the assets to the Nigerian people.

“A whole chapter of the Convention is devoted to international cooperation in the recovery and return of stolen assets including from Nigeria (chapter V, comprising 9 articles).

“SERAP is concerned that corruption remains a major obstacle to sustainable development, the rule of law and the effective enjoyment of socio-economic rights in Nigeria. Implementing the recommended measures would contribute to addressing these governance challenges.”

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