The Socio-Economic Rights and Accountability Project (SERAP) has called on U.S. President-elect Donald Trump to take decisive action in identifying and returning stolen assets traced to Nigerian public officials. SERAP’s request focuses on U.S.-based proceeds of corruption linked to both former and current Nigerian officials, urging the U.S. government to act in accordance with its commitments to assist Nigeria in asset recovery efforts.
In a formal letter signed by Kolawole Oluwadare, SERAP’s deputy director, the organization pressed Trump to direct the U.S. Department of Justice to initiate civil asset forfeiture proceedings for any stolen Nigerian funds that are deposited in U.S. banks or other jurisdictions under U.S. control. The organization further called for the identification and publication of names of officials suspected of corruption, as well as the application of existing U.S. presidential proclamations to temporarily ban these individuals from entering the U.S.
The Extent of Stolen Nigerian Assets
SERAP highlighted that despite recent returns, such as former Petroleum Minister Diezani Alison-Madueke’s looted assets, they represent only a small fraction of the over $500 billion reportedly stolen from Nigeria and stashed away in foreign jurisdictions, particularly the U.S. The organization emphasized the importance of returning these funds, noting that doing so would significantly contribute to tackling the pervasive poverty in Nigeria and advancing the country’s development agenda.
The organization cited the U.S.’s legal obligations under the United Nations Convention against Corruption (UNCAC), which both the U.S. and Nigeria have signed. These obligations include tracing, freezing, and seizing corrupt proceeds found in U.S. banks and other locations under U.S. jurisdiction, and ensuring their return to the people of Nigeria.
SERAP reiterated that corruption continues to pose a major challenge to Nigeria’s development, undermining the rule of law and the effective enjoyment of socio-economic rights for its citizens. The group expressed hope that the incoming Trump administration would address the legal hurdles that allow corrupt Nigerian officials to hide their ill-gotten wealth in the U.S. and other jurisdictions, noting that the return of these funds is essential to achieving the U.N.’s Sustainable Development Goals.
By fulfilling these commitments, SERAP believes the U.S. can help mitigate the systemic corruption undermining Nigeria’s growth and contribute to improving the quality of life for millions of Nigerians.
