US EditionJersey Returns £7m of 'Tainted' Funds to Nigeria
- Jersey agreed to repatriate $9.5 million from a Jersey bank account to the Nigerian government, after years of legal proceedings.
- Described as proceeds of 'tainted property', the Royal Court found the funds were 'more likely than not' from a corrupt scheme involving third-party contractors, first recovered under Goodluck Jonathan.
- Jersey's Attorney-General Mark Temple KC signed a Memorandum of Understanding in December authorising the return, and Temple said it showed `the strength of our civil forfeiture legislation as a powerful tool in the fight against corruption`.
- Nigeria's Attorney-General Lateef Fagbemi said the assets will be used `in line with the terms` of the Memorandum of Understanding to support the final stages of a major highway linking the capital and second-largest city.
- Seen alongside prior recoveries, officials said the repatriation underscores international cooperation to ensure there are no safe havens for illicitly acquired wealth or assets moved to foreign jurisdictions.
17 Articles
17 Articles
Nigeria to get fresh $9.5m Abacha loot from UK's Jersey
Nigeria to receive fresh $9.5 million (£7 million), believed to be stolen funds linked to former military Head of State, Sani Abacha, from the United Kingdom’s Jersey. According to the BBC, Jersey has agreed to repatriate the fund to the Nigerian government. The money, described as proceeds of “tainted property,” is said to be part of the vast fortune stolen by Abacha, who ruled Nigeria between 1993 and 1998. The funds were kept in a bank accoun…
Nigeria to Receive $9.5 Million Abacha Loot from Jersey
(AFRICAN EXAMINER) – Nigeria is set to receive $9.5 million (£7 million), believed to be stolen funds linked to former military Head of State, Sani Abacha, from the United Kingdom’s Jersey. According to the BBC, Jersey has agreed to repatriate the funds to the Nigerian government. The money, described as proceeds of “tainted property,” forms […] The post Nigeria to Receive $9.5 Million Abacha Loot from Jersey first appeared on African Examiner.
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The Zambian ObserverJersey To Return $9.5Million Abacha Loot To Nigeria For Infrastructure Project
Jersey To Return $9.5Million Abacha Loot To Nigeria For Infrastructure Project
Jersey To Return $9.5 Million In Corruption Proceeds To Nigeria
Latest Nigerian News and Entertainment - Latest Nigerian News and Entertainment Authorities in Jersey — a British Crown Dependency in the Channel Islands between the United Kingdom and France — are set to return more than $9.5 million (£7 million) to the Nigerian government. The funds will be funneled into supporting infrastructure projects in the West African country. This repatriation followed a Memorandum of Understanding (MoU) in […] The po…
Jersey To Repatriate £7m Funds Marked As Corruption Proceeds To Nigeria
By Enyichukwu Enemanna The Nigerian government is expected to receive the sum of $9.5m (£7m) held in a Jersey bank account and identified as “tainted property”, which will be used to fund infrastructure projects. Jersey’s Attorney General, Mark Temple KC, signed a Memorandum of Understanding (MOU) in December authorising the return of the money. The agreement builds on two earlier arrangements between Jersey and Nigeria that led to the return of…
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