The UK Crown Dependency of Jersey will repatriate over $9.5 million (£7 million) in funds linked to corruption back to Nigeria.
These funds, described as “tainted property,” are believed to have been misappropriated by the late former military ruler, Sani Abacha, who governed Nigeria between 1993 and 1998.
The money had been held in a Jersey bank account and was tied up in long-running legal proceedings. While it was initially recovered under ex-President Goodluck Jonathan, its return to Nigeria had been delayed by legal hurdles.
In December, Mark Temple, Jersey’s attorney-general, signed a memorandum of understanding (MoU) with Nigeria to make sure the funds would finally be returned.
According to the BBC, this deal builds on two earlier agreements between Jersey and Nigeria, which previously secured over $300 million (£230 million) in recovered assets.
In January 2024, the Royal Court in Jersey ruled that the funds were “more likely than not” proceeds of corruption, finding that third-party contractors had redirected public money “for the benefit of senior Nigerian officials and their associates.”
Nigeria’s attorney-general and minister of justice, Lateef Fagbemi, said the recovered funds will be used strictly according to the terms of the MoU.
“The successful recovery and repatriation of the forfeited assets underscores the effectiveness of Nigeria’s collaborative efforts with its international partners in ensuring that there is no safe haven for illicitly acquired wealth or assets moved to foreign jurisdictions,” Fagbemi said.
He added that the money would be used to complete a major highway project linking Abuja to Nigeria’s second-largest city, calling it a “vital link” for the nation.
Temple also highlighted the significance of the repatriation for Jersey’s legal framework.
“The return demonstrates the strength of our civil forfeiture legislation as a powerful tool in the fight against corruption,” he said.
