Jersey’s Royal Court to return $8.9m loot to Nigeria

Jersey’s Royal Court has ruled in favor of returning stolen assets valued at £6.9 million ($8.9 million) to Nigeria. The decision follows a forfeiture notice issued by Jersey’s Attorney General in November, asserting that the funds, deposited in a Jersey bank account, were likely misappropriated by Nigerian government officials in 2014.

The illicit transfer of funds was disguised as government-sanctioned contracts for arms purchases during Boko Haram incursions in Nigeria between 2009 and 2015. The Jersey court found that most of the funds, initially intended for legitimate arms deals, had been diverted through foreign bank accounts and shell companies linked to the former ruling party in Nigeria.

Jersey’s Attorney General, Mark Temple KC, emphasized the collaboration between Jersey and the Federal Republic of Nigeria in the recovery process. He highlighted the effectiveness of the 2018 Forfeiture Law in combating corruption and restoring funds to victims of crime. Plans are underway to negotiate an asset return agreement with the Nigerian government.

Temple stated, “This case again demonstrates the effectiveness of the 2018 Forfeiture Law in recovering the proceeds of corruption and restoring that money to victims of crime. I now intend to negotiate an asset return agreement with the Federal Republic of Nigeria.”