U.S commends Nigeria over Galactica funds repatriation efforts

U.S commends Nigeria over Galactica funds repatriation efforts

The U.S. Deputy-Secretary of State, Kurt Campbell, has extolled Nigeria’s partnership in the successful repatriation of funds linked to forfeited luxury real estate and Galactica Star Superyacht.

The Galactica assets worth $52.88 million were forfeited and linked to former Petroleum Resources Minister Diezani Alison-Madueke and her associates.

Campbell, in a statement by Alkasim Abdulkadir, Special Assistant on Media and Communication Strategy to Amb. Yusuf Tuggar, Minister of Foreign Affairs, made the commendation on Thursday in Abuja.

The commendation is against the backdrop of the valedictory telephone conversation between Campbell and Tuggar.

Campbell commended Nigeria’s commitment to fighting corruption, as well as cooperation in the recovery and repatriation of stolen assets, while thanking Tuggar and his team

The repatriation of the Galactica funds marked significant milestone in the fight against corruption and testament to the strong partnership between Nigeria and the U.S.

“The deputy-Secretary of state said the repatriation negotiations between both officials had made him believe more in Nigeria, while pledging support and cooperation of the incoming deputy-secretary of state.

For his part, Tuggar thanked Campbell for his dedication to the process and steadfast determination to bring the repatriation to fruition.

Tuggar said. “Nigeria is an energy producer; robust gas energy transition plans like the African Atlantic gas pipeline traverse 15 African countries, which can provide requisite energy supply for crypto players and data miners.

“This has great potential and we are counting on our allies like the U.S. and Morocco.

“Truly, Nigeria and the U.S. are going back to basics, back to strong values and this is something we can build upon.

The repatriated funds will expand the Distributed Access through Renewable Energy Scale-Up project and the Rural Electrification Agency (REA).

The programme seeks to increase access to electricity services in the country.

The telephone-conversation by the officials tackled bilateral issues about leveraging technology to turn digital assets, like Binance into mutually beneficial opportunities for Nigeria to become hub of data mining, data storage and artificial intelligence between both countries. (NAN)