In a significant development in Nigeria’s fight against corruption, authorities in Jersey have agreed to repatriate over $9.5 million (£7 million) in looted funds linked to the era of the late military ruler, Sani Abacha.
The funds, traced to a bank account in the Channel Island, were deemed proceeds of corruption and will be returned under a Memorandum of Understanding (MoU) signed in December between Jersey’s Attorney General, Mark Temple KC, and Nigerian officials.
The MoU builds on two earlier asset recovery agreements, which had already facilitated the return of more than $300 million (£230 million) stolen during Abacha’s regime.
In January 2024, Jersey’s Royal Court ruled that the funds were likely diverted by third-party contractors for the benefit of senior Nigerian officials and their associates.
Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi (SAN), confirmed the repatriation and said the recovered assets would be strictly used in line with the MoU.
“The successful recovery and repatriation of these forfeited assets underscores the effectiveness of Nigeria’s collaborative efforts with international partners in ensuring there is no safe haven for illicitly acquired wealth,” Fagbemi said.
He added that the funds would be channelled into infrastructure, including the final stages of a major highway linking Abuja, the nation’s capital, to Nigeria’s second-largest city—a project described as a vital transport corridor.
Jersey’s Attorney General, Mark Temple KC, hailed the recovery as a demonstration of the island’s robust legal framework in combating corruption.
“The strength of our civil forfeiture legislation is a powerful tool in the fight against corruption,” he said, noting that the case reflected Jersey’s commitment to transparency and accountability in dealing with international illicit assets.
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