U.S. Court Orders Repatriation of £6.9m Stolen Assets to Nigeria

In a pivotal decision, a Royal Court in Jersey, United States, has issued a ruling for the repatriation of stolen assets valued at £6.9 million ($8.9 million) to Nigeria.

The funds, allegedly diverted by Nigerian government officials in 2014 under the guise of purchasing arms to combat Boko Haram terrorists, have been a subject of controversy and legal battles.

The court, as reported by the BBC, determined that the money, initially deposited in a Jersey bank account, was likely misappropriated by officials within the Nigerian Government during 2014. The purchase of weapons to address insurgency had been mired in allegations, with the then National Security Adviser, Sambo Dasuki, accused of diverting funds intended for security equipment during Jonathan’s administration.

The Royal Court’s order comes on the heels of a forfeiture notice submitted by Jersey’s Attorney General, Mark Temple KC. It stipulated that the funds, earmarked for arms purchase, were deposited in a Jersey bank account but were not utilized for the stated purpose.

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Temple emphasized the collaborative effort between the Government of Jersey and Nigeria in the repatriation process. He disclosed that part of the funds had allegedly been shared with family members of politicians in the then-ruling Peoples Democratic Party in the run-up to the 2015 general election.

“This case underscores the efficacy of the 2018 Forfeiture Law in reclaiming the proceeds of corruption and restoring these funds to victims of crime. I now look forward to negotiating an asset return agreement with the Federal Republic of Nigeria,” declared Temple.