Nigeria to recover $9.5m in repatriated corruption proceeds from Jersey

About $9.5 million (£7 million) linked to corrupt proceeds and held in a bank account in Jersey is set to be returned to the Nigerian government to support an infrastructure project.

Jersey’s Attorney General, Mark Temple KC, authorised the repatriation of the funds after signing a Memorandum of Understanding (MoU) with Nigerian authorities in December. The agreement provides the legal framework for the return of the recovered assets and outlines how the funds will be utilised.

According to officials, the money, traced to illicit activities, will be channelled towards critical infrastructure development in Nigeria, in line with international best practices on the transparent use of repatriated assets.

The development marks another step in ongoing cooperation between Nigeria and international partners aimed at asset recovery and the fight against corruption. It also reinforces commitments by both parties to ensure that recovered funds are deployed for projects that directly benefit the Nigerian public.

Further details on the specific infrastructure project to be funded are expected to be announced by the Nigerian government upon completion of the repatriation process.