Keypoints:
- Jersey court ruled funds were likely proceeds of corruption
- $9.5m to be repatriated under bilateral agreement
- Money earmarked for critical Abuja highway project
MORE than $9.5 million seized from a Jersey-based bank account and found to be linked to corruption is to be returned to Nigeria, strengthening a long-running international effort to recover illicit assets and redirect them towards public infrastructure.
The repatriation follows the signing of a Memorandum of Understanding (MOU) in December 2024 between Jersey’s Attorney General, Mark Temple KC, and the government of Nigeria. The agreement formalises the transfer of the funds and builds on earlier arrangements between the two jurisdictions that have already seen more than $300 million returned to Nigeria.
Court ruling on tainted assets
The decision was enabled by a ruling from the Royal Court of Jersey, which in January 2024 concluded that the funds were ‘more likely than not’ the proceeds of corruption. The court found that third-party contractors had diverted Nigerian government funds for the benefit of senior officials and their associates, before moving the money offshore.
The assets were subject to civil forfeiture proceedings under Jersey law, which allows the state to confiscate property linked to unlawful conduct without the need for a criminal conviction. The court ruled that the evidential threshold had been met, clearing the way for the funds to be returned.
Temple said the case highlighted the effectiveness of Jersey’s legal framework in tackling financial crime. He described civil forfeiture legislation as ‘a powerful tool in the fight against corruption’, adding that the island remained committed to preventing its financial system from being used to store illicit wealth.
Nigeria outlines use of recovered funds
Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi, said the repatriated assets would be used strictly in line with the terms of the MOU.
‘The successful recovery and repatriation of the forfeited assets underscores the effectiveness of Nigeria’s collaborative efforts with its international partners,’ Fagbemi said. ‘It reinforces the message that there is no safe haven for illicitly acquired wealth or assets moved to foreign jurisdictions.’
According to Nigerian officials, the funds will be applied to the final stages of construction on a key stretch of highway linking Abuja, the capital, with the country’s second-largest city. The route is regarded as a vital economic artery, supporting trade, commuting, and regional integration.
Part of wider anti-corruption drive
The latest repatriation forms part of Nigeria’s broader push to recover assets lost to corruption over several decades, particularly funds transferred abroad during previous administrations. Successive governments have argued that asset recovery is central to restoring public trust while also unlocking additional financing for development.
Previous repatriation agreements between Jersey and Nigeria have included provisions aimed at transparency and monitoring to ensure that returned funds are spent on agreed projects. Those safeguards were introduced after concerns from civil society groups that recovered assets could be misused or re-diverted.
Jersey has increasingly sought to position itself as a cooperative jurisdiction in global anti-corruption efforts, as offshore financial centres face mounting scrutiny over their role in facilitating illicit financial flows.
Officials on both sides said the new MOU reinforces that cooperation, signalling a shared commitment to accountability, judicial cooperation, and the redirection of stolen wealth towards public benefit.
The story was first reported by the BBC.
