Authorities in the UK Crown Dependency of Jersey are set to repatriate over $9.5 million (£7 million) in funds linked to corruption to the Nigerian government.
The money, described as proceeds from “tainted property,” is believed to have been stolen by the late former military ruler, Sani Abacha, who led Nigeria from 1993 to 1998. The funds were held in a bank account in Jersey and have been tied up in lengthy legal proceedings.
Although the sum was recovered during former President Goodluck Jonathan’s administration, legal processes delayed its return. In December, Jersey’s Attorney-General, Mark Temple, signed a memorandum of understanding (MoU) with Nigeria to facilitate the repatriation.
According to the BBC, this agreement builds on two prior arrangements between Jersey and Nigeria that resulted in over $300 million (£230 million) in recovered assets being returned.
In a January 2024 ruling, the Royal Court in Jersey determined that the funds were “more likely than not” proceeds of corruption, finding that third-party contractors had diverted public money for the benefit of senior Nigerian officials and their associates.
Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi, stated that the recovered assets would be used strictly in accordance with the MoU, with plans to fund the final phase of a major highway connecting Abuja and Nigeria’s second-largest city.
Fagbemi highlighted that the successful recovery underscores Nigeria’s effective collaboration with international partners in ensuring that illicitly acquired wealth has no safe haven abroad.
Temple added that the repatriation demonstrates the strength of Jersey’s legal framework in combating corruption, describing civil forfeiture laws as a powerful tool in tackling illicit assets.