Authorities in Jersey, a British Crown Dependency in the Channel Islands, have agreed to return $9.5 million in recovered corruption proceeds to the Nigerian government.
The funds, valued at approximately £7 million, will be channelled into critical infrastructure projects across Nigeria, officials confirmed on Friday.
The repatriation follows the signing of a Memorandum of Understanding (MoU) in December between the Government of Nigeria and the Attorney General for Jersey, Mark Temple KC. The agreement outlines the framework for the transparent return and utilisation of the recovered assets.
Nigeria’s Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, said the funds would be deployed strictly in line with the terms of the MoU, noting that the recovery reflects the success of Nigeria’s cooperation with international partners in combating corruption.
According to him, the funds will be used to support the final stages of a major highway project linking Abuja and Lagos, a key infrastructure corridor for economic growth.
Jersey’s Attorney General described the asset recovery as evidence of the strength of the island’s civil forfeiture laws, calling them an effective tool in the global fight against corruption.
Court findings in Jersey established that the funds were more likely than not proceeds of corruption, arising from schemes in which third-party contractors diverted public funds for the benefit of senior Nigerian officials and their associates.
Although the assets were recovered during the administration of former President Goodluck Jonathan, their return was delayed due to prolonged legal processes.
The latest repatriation adds to previous agreements between Nigeria and Jersey that have led to the recovery of over $300 million in illicit funds held in foreign accounts.