Diezani Alison-Madueke Denies Ownership of Recovered $52.8 Million, Reveals Alleged Owner

Former Nigerian Minister of Petroleum Resources, Diezani Alison-Madueke, has denied any connection to the $52.8 million recently recovered and repatriated from the United States to Nigeria. The Nigerian government, through Attorney-General and Minister of Justice Lateef Fagbemi (SAN), had announced the return of the funds on January 10, 2025, attributing them to assets linked to the former minister.

During a signing ceremony in Abuja, Fagbemi detailed how the funds would be utilized: $50 million for rural electrification projects in collaboration with the World Bank and $2.88 million to support the International Institute of Justice in strengthening the country’s justice system and anti-corruption efforts.

However, in a statement issued on Sunday through her lawyer, Mike Ozekhome (SAN), Alison-Madueke rejected any association with the money, insisting that the funds belonged to Nigerian oil magnate Kola Aluko. She also condemned the characterization of the funds as “Diezani Loot,” calling it a false narrative. According to Ozekhome, the money originated from the sale of the yacht Galactica, which was seized by U.S. authorities from Aluko and later forfeited.

Ozekhome described the allegations against Alison-Madueke as a campaign of misinformation, arguing that she has faced years of unjust vilification without being convicted of any crime in Nigeria or abroad. He asserted that she never owned, used, or even saw the yacht in question. Furthermore, he dismissed claims that she corruptly awarded contracts to Aluko’s company, Atlantic Energy, stating that as Minister of Petroleum, she was not in a position to approve such agreements.

Calling for fair treatment, Ozekhome urged that the ongoing UK legal proceedings against Alison-Madueke be allowed to run their course without prejudice, emphasizing that she has not been found guilty of any wrongdoing.