The Socio-Economic Rights and Accountability Project has urged United States President-elect, Donald Trump, and his incoming administration to take swift action to identify and recover proceeds of corruption linked to Nigerian public officials.
The organization called for the return of these funds to Nigeria, emphasizing the need for transparency and accountability in the process.
SERAP has requested that the U.S. Department of Justice initiate civil asset forfeiture proceedings against any assets traced to current and former Nigerian officials and their associates. The organization also urged Trump to ensure that any repatriated funds are used exclusively for the benefit of the Nigerian people.
In a letter dated January 18, 2025, signed by SERAP’s deputy director Kolawole Oluwadare, the group highlighted that the looted assets of former Nigerian Petroleum Minister Diezani Alison-Madueke and other returned funds represent only a fraction of the estimated $500 billion reportedly stolen from Nigeria and held in the U.S. or under U.S. jurisdiction. SERAP stressed that both the U.S. and Nigeria are parties to the UN Convention against Corruption, which mandates cooperation in the recovery of stolen assets.
The call for action comes after the U.S. recently returned $52.88 million in forfeited assets linked to Alison-Madueke’s corruption case. SERAP emphasized that despite this return, substantial amounts of illicit Nigerian funds continue to be held in U.S. banks or other locations under U.S. jurisdiction.
SERAP also urged the U.S. government to identify and publish the names of Nigerian officials involved in corruption and to consider applying existing U.S. presidential proclamations to impose temporary travel bans on these individuals. The organization stressed that these measures would not violate due process, provided the reasons for the sanctions are clearly communicated.
The letter further pointed out that corruption remains a significant barrier to sustainable development, the rule of law, and the enjoyment of socio-economic rights in Nigeria. SERAP noted the continued mismanagement of public resources, as documented by Nigeria’s auditor-general, which shows widespread corruption in various government sectors, including petroleum, education, health, and water.
In addition to asset recovery, SERAP called on the U.S. to share information with Nigerian civil society organizations about stolen assets located in the U.S. or elsewhere under U.S. jurisdiction, as required by the UN Convention Against Corruption. The organization highlighted that returning stolen assets to Nigeria would contribute to addressing the country’s growing poverty and help achieve the Sustainable Development Goals.
The letter also referenced past estimates from organizations like the Stolen Asset Recovery Initiative, which suggest that illicit funds associated with corruption in developing countries amount to between $20 billion and $40 billion annually, a sum comparable to a significant portion of official development assistance.
SERAP’s letter concludes by reaffirming the obligations under the UN Convention against Corruption, which includes the return of corrupt assets to the countries of origin. The organization urged the U.S. to make every effort to return the proceeds of corruption to Nigeria, in line with international commitments.
SERAP said, “any return of proceeds of corruption from Nigeria must meet strict transparency and accountability standards to ensure the funds are used solely for the benefit of the Nigerian people.”
SERAP urged him to “direct the US Department of Justice to promptly initiate civil asset forfeiture proceedings against proceeds of corruption traced to former and current Nigerian public officials and their associates so as to fulfill several non-controversial commitments by the US to assist Nigeria in asset recovery matters.”
SERAP also urged him “to identify and publish the names of former and current Nigerian public officials suspected to be responsible for corruption and the depositing of its proceeds in US banks, and to apply existing US presidential proclamations to temporarily ban such officials from entering the US.”
In the letter dated 18 January 2025 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “Diezani Alison-Madueke’s looted assets and other recently returned assets represent a tiny fraction of the over $500 billions that have been reportedly stolen from Nigeria and located in the US or otherwise subject to US jurisdiction.”
SERAP said, “Our requests are brought in the public interest, and in keeping with the requirements of the UN Convention against Corruption to which both the US and Nigeria are states parties.”
According to SERAP, “Proceeds of corruption from Nigeria continue to be deposited in US banks or in other locations subject to US jurisdictions.”