Jersey To Return $9.5m Abacha Loot To Nigeria For Infrastructure Project

Authorities in Jersey are set to return over $9.5 million (£7 million) to the Nigerian government after the money was traced to assets linked to corruption.

The funds are believed to be part of the wealth stolen by former military ruler Sani Abacha, who governed Nigeria from 1993 until his death in 1998.

Although the money was recovered during the administration of former President Goodluck Jonathan, legal challenges delayed its transfer back to Nigeria.

In December, Jersey’s Attorney-General, Mark Temple, signed a memorandum of understanding with Nigerian authorities to clear the way for the funds to be sent home.

The money had been held in a bank account on the island.

According to BBC, this latest agreement follows two earlier deals between Jersey and Nigeria that resulted in the return of more than $300 million (£230 million) in recovered assets.

Earlier, in a judgment delivered in January 2024, Jersey’s Royal Court ruled that the funds were most likely proceeds of corruption.

The court found that contractors had diverted public money for the benefit of senior Nigerian officials and their associates.

Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi, said the recovered money would be used strictly according to the terms of the agreement.

“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.

Fagbemi added that the money would be used to complete the final phase of a major highway project linking Abuja to Nigeria’s second-largest city.

Temple also welcomed the development, saying it highlights how Jersey’s legal system can be effectively used to recover assets and combat corruption.

“The return demonstrates the strength of our civil forfeiture legislation as a powerful tool in the fight against corruption,” he said.

KanyiDaily recalls that Maryam Abacha had dismissed long-standing claims that her late husband looted billions of dollars while in power.