Authorities in Jersey, a British Crown Dependency located between the United Kingdom and France, are set to repatriate over $9.5 million (£7 million) to the Nigerian government.
The funds are expected to be deployed for critical infrastructure development across the country.
The asset recovery followed the signing of a Memorandum of Understanding (MoU) in December between the Government of Jersey and the Federal Government of Nigeria.
Officials explained that the agreement builds on two earlier arrangements between both parties, under which more than $300 million previously held in Jersey bank accounts was returned to Nigeria.
Reacting to the development, the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, said the recovered funds would be utilised strictly in line with the terms of the agreement.
According to him, the repatriation highlights Nigeria’s growing success in working with international partners to block safe havens for illicitly acquired assets.
Fagbemi added that the money would be channelled towards completing the final phases of the Abuja–Lagos highway project.
On his part, Jersey’s Attorney General, Mark Temple KC, described the recovery as a clear demonstration of the strength of the island’s civil forfeiture laws in tackling corruption.
He noted that Jersey remains committed to cooperating with foreign governments to ensure proceeds of crime are identified and returned to their rightful owners.
A ruling by the Royal Court in 2024 had found that the funds were more likely than not linked to corrupt practices involving third-party contractors who diverted public funds for the benefit of senior Nigerian officials and their associates.
Although the assets were recovered during the administration of former President Goodluck Jonathan, their return was delayed due to prolonged legal processes.
