Authorities in Jersey — a British Crown Dependency in the Channel Islands between the United Kingdom and France — are set to return more than $9.5 million (£7 million) to the Nigerian government.
The funds will be funneled into supporting infrastructure projects in the West African country.
This repatriation followed a Memorandum of Understanding (MoU) in December between the Attorney General for Jersey Mark Temple KC and the Federal Government.
The MoU is built on two past deals between Nigeria and Jersey involving the return of over $300m which were held in a bank account in the island.
According to Nigeria’s Minister of Justice and Attorney-General of the Federation, Lateef Fagbemi, the return of the funds would be used “in line with the terms” of the agreement.
“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 BBC quoted Fagbemi as saying.
The minister said the money will support the construction of the last stages of a highway linking Abuja and Lagos.
For Temple, the move signifies the “the strength of our civil forfeiture legislation as a powerful tool in the fight against corruption”.
In 2024, the Royal Court found out that the monies were “more likely than not” proceeds from a corrupt scheme where third-party contractors took government funds “for the benefit of senior Nigerian officials and their associates”.
The money was recovered during the administration of former President Goodluck Jonathan. However, the return was delayed due to legal issues.