By Ayo Kehinde
In a major boost to Nigeria’s anti-corruption drive, the British Crown Dependency of Jersey has commenced the process to repatriate over $9.5 million (£7 million) in looted funds to the Federal Government of Nigeria, following a decisive court ruling that traced the money to corrupt practices involving senior Nigerian officials and their associates.
The asset return follows a Memorandum of Understanding (MoU) signed in December between the Attorney General of Jersey, Mark Temple KC, and the Nigerian government, outlining the framework for the transfer and utilisation of the recovered funds. The money is expected to be deployed in support of critical infrastructure projects in the country.
The latest repatriation builds on earlier agreements between Nigeria and Jersey, which led to the return of more than $300 million previously stashed in bank accounts on the island and linked to corruption.
Nigeria’s Minister of Justice and Attorney-General of the Federation, Prince Lateef Fagbemi (SAN), said the funds would be utilised strictly in accordance with the terms of the MoU, stressing that the recovery demonstrates the success of Nigeria’s collaboration with international partners.
“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,” Fagbemi said, according to the BBC.
The Attorney-General disclosed that the recovered funds would be applied to the construction of the final stages of the Abuja–Lagos highway, a strategic transport corridor vital to economic development and national integration.
On his part, Jersey’s Attorney General, Mark Temple KC, described the repatriation as evidence of the strength of the island’s civil forfeiture legislation, noting that it remains a powerful instrument in the global fight against corruption.
In 2024, Jersey’s Royal Court ruled that the funds were “more likely than not” proceeds of a corrupt scheme in which third-party contractors diverted public funds for the benefit of senior Nigerian officials and their associates.
Although the money was recovered during the administration of former President Goodluck Jonathan, its return was delayed by prolonged legal proceedings. The imminent repatriation now marks another milestone in Nigeria’s ongoing efforts to recover stolen assets and ensure they are transparently used for the benefit of citizens.
