More than $9.5 million (£7 million) from “tainted property” held in a Jersey bank account will be returned to the Nigerian government to fund an infrastructure project.
Attorney General for Jersey, Mark Temple KC, signed a Memorandum of Understanding (MOU) in December to facilitate the repatriation. The agreement builds on two earlier deals between Jersey and Nigeria that recovered over $300 million (£230 million) in misappropriated funds.
The Royal Court, in January 2024, ruled that the funds were “more likely than not” proceeds of a corrupt scheme in which third-party contractors diverted government money for the benefit of senior Nigerian officials and their associates.
Attorney-General for the Federation and Minister of Justice, Lateef Fagbemi, SAN, said the recovered assets would be used according to the MOU.
He said: “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.”
The funds are set to support the final stages of a key highway linking Nigeria’s capital, Abuja, with its second-largest city, providing a vital transportation corridor.
Temple noted that the return of the money highlights “the strength of our civil forfeiture legislation as a powerful tool in the fight against corruption.”
(Photo: NAN)