Authorities in Jersey have concluded plans to return more than $9.5 million (£7 million) traced to “tainted property” to the Nigerian government.
TheCable understands that the funds are linked to Sani Abacha, the former military head of state who governed Nigeria from 1993 until his death in 1998.
Although the money was recovered during the administration of former President Goodluck Jonathan, prolonged legal proceedings delayed its repatriation to Nigeria.
Mark Temple, Jersey’s attorney-general, signed a memorandum of understanding (MoU) with Nigeria in December to enable the transfer of the funds, which had been kept in a bank account on the island.
According to the BBC, the latest agreement builds on two previous arrangements between Jersey and Nigeria that resulted in the return of more than $300 million (£230 million) in recovered assets.
In a judgment delivered in January 2024, Jersey’s Royal Court ruled that the funds were “more likely than not” proceeds of corruption, stating that third-party contractors diverted public funds “for the benefit of senior Nigerian officials and their associates”.
Lateef Fagbemi, Nigeria’s attorney-general and minister of justice, said the recovered assets would be applied strictly in accordance with the provisions 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 for the final phase of a major highway project that serves as a “vital link” between Abuja and Nigeria’s second-largest city.
Temple said the repatriation highlights the strength of Jersey’s legal system in combating corruption.
“The return demonstrates the strength of our civil forfeiture legislation as a powerful tool in the fight against corruption,” he said.