Crime
Jersey Set to Repatriate $9.5m Abacha-Era Funds to Nigeria for Infrastructure Development
By Admin
Authorities in the Channel Island of Jersey have agreed to return over $9.5 million (£7 million) in recovered funds linked to the regime of Nigeria’s late military ruler, General Sani Abacha, to the Nigerian government.
According to a BBC report, the money, which was traced to a bank account in Jersey, was adjudged to be proceeds of corruption.
This latest recovery adds to two previous asset return agreements between Jersey and Nigeria, through which more than $300 million (£230 million) looted during the Abacha era had already been repatriated.
In January 2024, Jersey’s Royal Court ruled that the funds were more likely than not derived from a corrupt arrangement involving third-party contractors who diverted Nigerian government funds for the benefit of senior officials and their associates.
Confirming the development, Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi (SAN), said the recovered assets would be utilised strictly in line with the provisions of the MoU.
“The successful recovery and repatriation of the forfeited assets highlights the effectiveness of Nigeria’s collaboration with international partners in ensuring that there is no safe haven for illicitly acquired wealth,” Fagbemi stated.
He further disclosed that the funds would be channelled into infrastructure development, specifically to support the completion of the final phases of a major highway connecting Abuja with Nigeria’s second-largest city.
Also speaking, Jersey’s Attorney General, Mark Temple KC, said the recovery underscored the strength of the island’s legal system in combating corruption.
“It demonstrates the effectiveness of our civil forfeiture laws as a strong instrument in the global fight against corruption,” he said.
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