I Don’t Own the $52.8 Million Repatriated Loot

By Achimi Muktar

In a dramatic twist to the recent repatriation of $52.8 million by the U.S. government to Nigeria, former Petroleum Resources Minister Diezani Alison-Madueke has denied any connection to the funds. Through her lawyer, Mike Ozekhome (SAN), Diezani declared that the money belonged to Nigerian oil magnate Kola Aluko, not her.

The Nigerian government announced on January 10, 2025, that the recovered funds, part of the Galactica assets, had been returned to Nigeria. At a signing ceremony in Abuja, Attorney-General of the Federation Lateef Fagbemi (SAN) detailed the funds' allocation: $50 million for rural electrification projects through the World Bank and $2.88 million to strengthen the justice system and combat corruption.

Diezani Pushes Back

In a statement titled “There Is No Such Thing as Diezani Loot”, Ozekhome fiercely refuted allegations linking his client to the funds. He revealed that the recovered money came from the sale of a yacht, Galactica Star, seized from Aluko by U.S. authorities.

"The yacht Galactica Star was neither owned nor used by our client. Diezani Alison-Madueke (DAM) has never set eyes on the vessel. Linking her to this asset is nothing but a calculated smear campaign," Ozekhome stated.

He criticized what he described as a decade-long vilification campaign against Diezani, asserting that many of the accusations were "sheer outlandish speculations and bizarre fabrications."

Addressing the Allegations

Ozekhome further clarified the circumstances of the Strategic Alliance Agreements (SAAs) between Aluko, Jide Omokore’s Atlantic Energy, and the Nigerian National Petroleum Corporation (NNPC). He argued that Diezani, not being the Group Managing Director of NNPC, had no authority to award those contracts.

“This false narrative aims to tarnish her image without evidence of wrongdoing. DAM has not been convicted of any crime in Nigeria or abroad, and her right to a fair hearing must be respected,” Ozekhome added.

Public Reaction and Context

The statement comes amidst heightened scrutiny of Nigeria’s past public officials accused of corruption. Diezani, who has faced numerous allegations over the years, insists on her innocence, arguing that her tenure was misrepresented by those seeking to discredit her.

Observers say this case underscores the complexities of Nigeria's asset recovery efforts, where allegations often intertwine with political narratives. The government, however, remains focused on repurposing recovered funds to drive development initiatives.

While the recovered $52.8 million will contribute to rural electrification and justice reforms, Diezani’s rebuttal highlights ongoing debates over accountability and fairness in addressing Nigeria’s corruption legacy.

As this saga unfolds, it raises broader questions about due process and the need for clarity in high-profile corruption cases. Whether Diezani’s defense will sway public opinion or shift the narrative remains to be seen.