A court has determined that stolen funds totaling £6.9 million ($8.9 million) can be returned to Nigeria.
It follows the Attorney General of Jersey serving a forfeiture notice on the Royal Court of Jersey in November.
The court decided that the money, which had been deposited in a Jersey bank account, was most likely stolen by Nigerian government officials in 2014.
The assets’ return will now be arranged with the Federal Republic of Nigeria.
During Boko Haram incursions from 2009 to 2015, money transfers were disguised as government-sanctioned contracts for arms acquisition.
The Jersey government stated that it was likely that the majority of funds intended for genuine arms purchases were diverted through overseas bank accounts to and from shell companies.
According to the Attorney General’s office, the money was believed to have gone to family members of the former ruling party and was distributed among its members before the 2015 general elections, and that the contaminated property in this instance was to be used for such an “illicit transaction.”
His Majesty’s Attorney General, Mark Temple KC, stated that the Government of Jersey worked in “close partnership” with the Federal Republic of Nigeria to recover the property on behalf of the people of Nigeria.
He said, “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.”
