The Socio-Economic Rights and Accountability Project (SERAP) has called on US President-elect Donald Trump to take immediate action in identifying and recovering proceeds of corruption traced to former and current Nigerian public officials and their associates.
In a letter dated January 18, 2025, signed by SERAP Deputy Director Kolawole Oluwadare, the organization emphasized the importance of ensuring that any recovered assets meet strict transparency and accountability standards to benefit the Nigerian people.
SERAP urged Trump to direct the US Department of Justice to initiate civil asset forfeiture proceedings against corruption-linked assets held in US banks and other locations under US jurisdiction.
It also called for the publication of the names of Nigerian officials suspected of depositing illicit funds in the US and recommended the imposition of temporary travel bans on these individuals.
According to SERAP, the assets of former Petroleum Resources Minister Diezani Alison-Madueke and other recently returned funds represent a fraction of the over $500 billion reportedly looted from Nigeria and traced to the US.
The group highlighted the need for the US government to fulfill its obligations under the United Nations Convention Against Corruption, to which both nations are signatories.
The letter noted that $52.88 million in forfeited proceeds of corruption linked to Diezani Alison-Madueke had been recently repatriated to Nigeria under the US Department of Justice’s Kleptocracy Asset Recovery Initiative.
These funds, reportedly acquired through money laundering and bribery conspiracies, are part of broader efforts to trace and recover illicit assets.
SERAP proposed the following measures to combat corruption and enhance asset recovery efforts:
Strengthening Legal Frameworks: Address legal loopholes that allow corrupt Nigerian officials to conceal stolen funds in the US.
Transparency in Asset Repatriation: Ensure recovered funds are used to combat poverty and achieve Sustainable Development Goals in Nigeria.
Temporary Travel Bans: Impose sanctions on officials suspected of corruption, provided reasons for the sanctions are communicated to affected individuals.
The letter also referenced a 2007 allegation by former Economic and Financial Crimes Commission (EFCC) Chairman Nuhu Ribadu, which claimed that Nigerian politicians had stolen over $400 billion.
It further cited former dictator General Sani Abacha’s reported misappropriation of billions of naira in cash from the Central Bank of Nigeria.
SERAP stressed that returning proceeds of corruption to Nigeria is essential for addressing the country’s growing poverty and promoting sustainable development.
The organization expressed hope that the Trump administration would fulfill the US’s commitments to asset recovery and play a pivotal role in fostering accountability and good governance in Nigeria.
The appeal comes as Nigeria continues to grapple with corruption, which remains a significant impediment to the nation’s development.