In a significant development, the Royal Court in Jersey has ruled in favor of returning nearly $9 million in stolen assets, currently held in tax havens on the English island, back to Nigeria. The funds had previously been confiscated by the Royal Court before the recent decision to repatriate them to Abuja.
The Jersey court disclosed that the funds, amounting to almost $9 million, were initially allocated for the purchase of weapons and aeronautical equipment between 2009 and 2015 to aid in the fight against Boko Haram. However, these funds were ultimately diverted to shell companies linked to members of President Goodluck Jonathan’s government.
The Economic Crime and Forfeiture Unit of the Jersey Solicitors Department collaborated closely with Nigerian authorities throughout the legal proceedings, commending Abuja’s contribution to the case. The exact date for the restitution of the funds is yet to be determined and will be decided by the Nigerian government following approval by the Royal Court of Jersey.
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This marks a significant step in the ongoing efforts to combat corruption and recover stolen assets. The collaboration between Jersey authorities and Nigerian counterparts reflects a commitment to addressing financial crimes and ensuring accountability.
It’s noteworthy that this isn’t the first instance of Jersey authorities seizing money originating from Africa’s most populous nation. In 2020, over $300 million embezzled by General Sani Abacha and his family, which had been hidden in Jersey bank accounts, was successfully repatriated to Nigeria following a historic agreement.
These actions underscore the international community’s determination to combat financial crimes and facilitate the return of ill-gotten gains to their rightful owners.
