CISLAC demands transparency in management of $52.88m recovered loot

The Civil Society Legislative Advocacy Centre has called on the Federal Government to ensure transparency in the use of the repatriated $52.88 million linked to a former Minister of Petroleum Resources, Diezani Alison-Madueke.

PUNCH Online reports that the funds stem from the forfeiture of the Galactica assets linked to Alison-Madueke and her associates.

The United States Ambassador to Nigeria, Richard Mills, led a delegation to sign the Asset Return Agreement at the Federal Ministry of Justice in Abuja on Friday.

The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, signed the agreement on behalf of the FG, highlighting the importance of this achievement in President Bola Tinubu’s commitment to combat corruption.

While commending the cooperation between the Nigerian and the US governments in the repatriation of the funds, CISLAC’s Executive Director, Auwal Rafsanjani, urged the government to ensure transparency and accountability in the management of the recovered assets.

Rafsanjani, said in a statement, on Saturday, said, “According to the Minister of Justice, most of the recovered funds will be used for rural electrification through the World Bank. However, we seek more clarity on this plan. How will government agencies be involved? How much of the funds will benefit the citizens?”

He expressed concern over the proposed 2025 budget which includes significant sums for items like cars, which do not address Nigeria’s economic challenges or the widespread hunger in the country.

“We need greater transparency regarding how these funds will be utilised, as well as full disclosure of the terms of the asset return agreement,” he added.

CISLAC also emphasised the need to adhere to the Proceeds of Crime (Recovery and Management) Act 2022, advocating for greater openness in communicating details about asset recoveries.

The organisation stressed that citizens must be able to track the impact of these funds to ensure proper accountability.

Rafsanjani further warned, “If these funds are not used transparently for the benefit of Nigerians, suspicions of re-looting will inevitably arise. The era of mismanaging recovered assets must end.”

The group reiterated its commitment to ensuring looted funds are recovered and properly used for national development, adding that the FG should build on this success by pursuing other pending asset recovery cases and ensuring the judicious use of recovered proceeds to improve the lives of Nigerians.