What a man can do, a woman can do too
Diezani’s alleged stolen funds have been returned to Nigeria.
Good morning, Big Brains. A wildfire in Hollywood was not how I was expecting the world to start 2025, but unfortunately, here we are. My heart goes out to the people who have lost their lives and properties in Los Angeles.
- Margaret
Word count: ~ 1, 000
Reading time ~ 4 mins
This Week’s Big Question: ”One-way ticket to Canada or 24-hours with Tinubu?” Share your responses with us, and if we think they’re fun enough, we’ll feature them in the newsletter :) so be on the lookout.
Let’s get into the news you missed during the weekend:
Diezani’s alleged looted funds have made Nigeria $53 million richer
Los Angeles is still on fire
The Big Deal
Diezani’s alleged looted funds have made Nigeria $53 million richer
We’ve always been fans of women in male-dominated fields, but some fields shouldn’t exist at all. Diezani Alison-Madueke, who served as Nigeria’s oil minister from 2010 to 2015, is allegedly one of the most prominent women in the corrupt politicians club.
After years of “Did she do it, did she not?” some of the millions allegedly looted by the former minister have finally found their way back home. Close to $53 million has been repatriated to Nigeria from the US, where authorities accused Alison-Madueke of turning the country’s oil wealth into her personal piggy bank during her time as minister.
The US and Nigeria finalized this latest asset return on Friday, January 11, with Nigerian Attorney-General Lateef Fagbemi calling it a big win in the fight against corruption. According to the asset return plan, $50 million of the funds will go through the World Bank to bring electricity rural communities, while the rest will boost Nigeria’s justice system and anti-corruption efforts.
According to US officials, this money wasn’t just chilling in some savings account—it was busy buying things like the Galactica Star, a 65-meter superyacht that could make Femi Otedola say “God when”. She also allegedly bought some luxury properties in California and New York. The US also believes that some of the money sponsored her alleged love for Louis Vuitton, private school fees, and a casual $127,000 in cash gifts.
Alison-Madueke has always denied the allegations, but the receipts keep coming. This latest recovery is part of a broader push to reclaim assets reportedly laundered during her time as Nigeria’s petroleum minister from 2010 to 2015. The US Ambassador to Nigeria, Richard Mills, added the extra piece of advice we were all thinking – Nigeria better put this money to good use. In his words, “transparency and accountability” are non-negotiable. After all, it would be a shame if the funds went from one questionable purse to another.
Why is this a big deal?
Richard Mills's advice to prioritise transparency and accountability is what we’re concerned about too. Kids who were born yesterday already know that Nigeria has a corruption problem that indulges theft and all sorts of bad habits. The recovered funds can either be used for what the government claims they will be used for, or they could easily be used as souvenir for a few guys at the top.
This isn’t the first time Nigeria has recovered a big, looted bag in recent times. Back in November 2022, the US government sent $20.6 million back to Nigeria—money allegedly looted by another legendary looter, former military leader General Sani Abacha. And if you think that’s a lot, five years ago, Washington wired $311.8 million as part of another deal to return funds traced to his regime. Unfortunately, we can’t tell you where all that money went. In 2023, a court gave President Tinubu a deadline to present a document detailing how much has been received so far and how it was spent, but the deadline must have been lost in the email.
The Economist of London, a media publication, once reported that funds looted from Nigeria and refunded to its government were often “re-looted.” This is a sad reality for a country that is deep-neck in debt. History has never been a bad teacher, so if you’re expecting transparency on how these recently recovered funds are eventually spent, you might want to reduce your expectations.
Los Angeles is still on fire
The Los Angeles fires are still burning, and things just got trickier. The fire spread into new neighbourhoods on Saturday, forcing more people to leave their home.
Since the fires started on Tuesday, January 7, at least 16 people have died, and thousands of homes have been reduced to ashes. US President, Joe Biden described the scene as “a war zone.”
The Palisades fire, which has burned over 21,000 acres, is now spreading into other neighbourhoods. With winds expected to pick up again, officials are worried it could spark even more fires.
Residents are not just heartbroken—they’re angry. Some have claimed that officials let them down with slow responses.
US authorities have been collating numbers, and they’re not looking good: so far, over 12,000 buildings are gone, more than 37,000 acres burned, and countless families left to start their lives from scratch. Some big names like Mel Gibson, Anthony Hopkins, Jhene Aiko, and Paris Hilton have also lost their homes in the fires.
To make matters worse, looting has been reported in some areas, leading to a curfew and the deployment of the National Guard. In light of this development, some residents have taken it upon themselves to protect their neighbourhoods.
So far, only 8% of the Palisades fire has been contained, and officials are warning that the danger isn’t over. If you were wondering, the cause of the widespread fire is still under investigation.
The Big Picks
Trump Calls California Leaders ‘Incompetent’ Over Fire Response: US President-elect Donald Trump on Sunday blamed California officials for mishandling the deadly wildfires tearing through Los Angeles, calling them incompetent.
16 Killed As Airstrike Tragedy Hits Zamfara Community: Tragedy hit the Tungar Kara community in Zamfara State’s Maradun Local Government Area on Saturday evening when a Nigerian Air Force (NAF) airstrike mistakenly targeted members of the Zamfara Community Protection Guard (ZCPG), local vigilantes, and residents, killing at least 16 people.