Jersey to Return $9.5 Million Abacha Loot to Nigeria for Major Infrastructure Project
The Channel Island of Jersey has agreed to repatriate over $9.5 million (£7 million) linked to corrupt funds to the Nigerian government, continuing its cooperation in recovering assets stolen during the late military ruler Sani Abacha’s regime. The funds, traced to a Jersey bank account, were adjudged proceeds of corruption and will be returned under a Memorandum of Understanding (MoU) signed in December between Jersey’s Attorney General, Mark Temple KC, and Nigerian officials.
This latest repatriation builds on prior agreements that recovered more than $300 million (£230 million) from Abacha-era looted funds. In January 2024, Jersey’s Royal Court confirmed that the funds were likely diverted by third-party contractors for the benefit of senior Nigerian officials.
Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi (SAN), stated that the recovered money will be used strictly according to the MoU and will fund infrastructure, specifically a critical highway connecting Abuja to Nigeria’s second-largest city. Mark Temple KC emphasized that Jersey’s civil forfeiture laws are effective tools in the fight against corruption, demonstrating the island’s commitment to preventing foreign safe havens for illicit wealth.
The move underscores Nigeria’s ongoing international collaboration to retrieve stolen public assets and demonstrates the effectiveness of cross-border legal frameworks in combatting financial crimes and enhancing accountability.
#AbachaLoot #NigeriaRecoversFunds #JerseyReturnsMoney #InfrastructureBoost
The Channel Island of Jersey has agreed to repatriate over $9.5 million (£7 million) linked to corrupt funds to the Nigerian government, continuing its cooperation in recovering assets stolen during the late military ruler Sani Abacha’s regime. The funds, traced to a Jersey bank account, were adjudged proceeds of corruption and will be returned under a Memorandum of Understanding (MoU) signed in December between Jersey’s Attorney General, Mark Temple KC, and Nigerian officials.
This latest repatriation builds on prior agreements that recovered more than $300 million (£230 million) from Abacha-era looted funds. In January 2024, Jersey’s Royal Court confirmed that the funds were likely diverted by third-party contractors for the benefit of senior Nigerian officials.
Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi (SAN), stated that the recovered money will be used strictly according to the MoU and will fund infrastructure, specifically a critical highway connecting Abuja to Nigeria’s second-largest city. Mark Temple KC emphasized that Jersey’s civil forfeiture laws are effective tools in the fight against corruption, demonstrating the island’s commitment to preventing foreign safe havens for illicit wealth.
The move underscores Nigeria’s ongoing international collaboration to retrieve stolen public assets and demonstrates the effectiveness of cross-border legal frameworks in combatting financial crimes and enhancing accountability.
#AbachaLoot #NigeriaRecoversFunds #JerseyReturnsMoney #InfrastructureBoost
Jersey to Return $9.5 Million Abacha Loot to Nigeria for Major Infrastructure Project
The Channel Island of Jersey has agreed to repatriate over $9.5 million (£7 million) linked to corrupt funds to the Nigerian government, continuing its cooperation in recovering assets stolen during the late military ruler Sani Abacha’s regime. The funds, traced to a Jersey bank account, were adjudged proceeds of corruption and will be returned under a Memorandum of Understanding (MoU) signed in December between Jersey’s Attorney General, Mark Temple KC, and Nigerian officials.
This latest repatriation builds on prior agreements that recovered more than $300 million (£230 million) from Abacha-era looted funds. In January 2024, Jersey’s Royal Court confirmed that the funds were likely diverted by third-party contractors for the benefit of senior Nigerian officials.
Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi (SAN), stated that the recovered money will be used strictly according to the MoU and will fund infrastructure, specifically a critical highway connecting Abuja to Nigeria’s second-largest city. Mark Temple KC emphasized that Jersey’s civil forfeiture laws are effective tools in the fight against corruption, demonstrating the island’s commitment to preventing foreign safe havens for illicit wealth.
The move underscores Nigeria’s ongoing international collaboration to retrieve stolen public assets and demonstrates the effectiveness of cross-border legal frameworks in combatting financial crimes and enhancing accountability.
#AbachaLoot #NigeriaRecoversFunds #JerseyReturnsMoney #InfrastructureBoost
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