More than $9.5m (£7m) from "tainted property" held in a Jersey bank account is to be returned to the Government of Nigeria to support an infrastructur
More than $9.5m (£7m) from “tainted property” held in a Jersey bank account is to be returned to the Government of Nigeria to support an infrastructure project.
His Majesty’s Attorney General for Jersey, Mark Temple KC, signed a Memorandum of Understanding (MOU) in December to return the money.
The MOU was built on two previous agreements between Jersey and Nigeria involving the repatriation of more than $300m (£230m).
In January 2024, the Royal Court found the funds were “more likely than not” proceeds from a corrupt scheme where third-party contractors diverted government funds “for the benefit of senior Nigerian officials and their associates”.
Lateef Fagbemi, Nigeria’s Attorney-General and Minister of Justice, said the repatriated assets would be used “in line with the terms” of 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 haven for illicitly acquired wealth or assets moved to foreign jurisdictions.”
Funds will contribute to the final stages of a stretch of highway that acts as a “vital link” between Nigeria’s capital and its second-largest city.
Temple said the return demonstrated “the strength of our civil forfeiture legislation as a powerful tool in the fight against corruption.
Source: BBC
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