Authorities in the UK Crown Dependency of Jersey have announced plans to repatriate more than $9.5 million (£7 million) in corruption-linked funds to the Nigerian government.
The money, described as proceeds of “tainted property,” is believed to have been looted during the military regime of the late former head of state, General Sani Abacha, who ruled Nigeria between 1993 and 1998. The funds were held in a bank account on the island of Jersey and have been the subject of lengthy legal proceedings.
Although the assets were recovered during the administration of former President Goodluck Jonathan, legal hurdles delayed their return to Nigeria for several years.
In December, Jersey’s Attorney-General, Mark Temple, signed a memorandum of understanding (MoU) with Nigerian authorities to facilitate the repatriation of the funds. The agreement builds on two previous arrangements between Jersey and Nigeria that led to the return of more than $300 million (£230 million) in recovered assets, according to the BBC.
In a ruling delivered in January 2024, Jersey’s Royal Court held that the funds were “more likely than not” the proceeds of corruption. The court found that third-party contractors had diverted public funds for the benefit of senior Nigerian officials and their associates.
Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi, welcomed the development, saying the recovered assets would be utilised strictly in line with 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 there is no safe haven for illicitly acquired wealth,” Fagbemi said.
He added that the funds would be applied to the final stages of a major highway project linking Abuja with Nigeria’s second-largest city, describing it as a vital national infrastructure corridor.
Temple said the repatriation highlights the strength of Jersey’s legal framework in tackling corruption, noting that civil forfeiture laws remain a key tool in preventing illicit wealth from being hidden in foreign jurisdictions.