Nigeria : Restitution of $9 million diverted from Jersey to fight Boko Haram
The Royal Court of the island of Jersey rendered a decision on Tuesday, January 16, 2024, in favor of the restitution of nearly 9 million dollars, initially confiscated, to Nigeria.
These funds, which were held in tax havens on the English island, were intended for the purchase of weapons and aviation equipment between 2009 and 2015 as part of the fight against Boko Haram. However, they were diverted to shell companies owned by members of the government of President Goodluck Jonathan.
The Economic Crime and Confiscation Unit of the Jersey Attorney General’s Department, working closely with Nigerian authorities on this case, praised Abuja’s contribution to the resolution of this matter. The exact date for the restitution of the funds is yet to be determined and will be set by the government after approval from the Royal Court of Jersey.
This case is part of a series of efforts aimed at repatriating assets diverted to the island of Jersey from Nigeria. Two years ago, over 300 million dollars, also related to acts of corruption, were successfully repatriated to Nigeria.
These funds were initially held in Jersey bank accounts and were linked to General Sani Abacha and his family. This historic agreement marked a significant step forward in the fight against corruption and fund embezzlement in Nigeria.
The decision to return nearly 9 million dollars represents an additional step in international cooperation to curb the illicit circulation of financial assets and strengthen financial transparency.
