Nigeria has successfully finalized an agreement to repatriate an additional $9.5 million (N13.3 billion) in funds linked to the regime of late General Sani Abacha. The assets, currently held in Jersey, are scheduled for return following a definitive legal victory and a newly signed Memorandum of Understanding (MoU).
This latest development continues a decades-long effort to recover billions stolen during the military era. The funds were originally identified and frozen during the administration of former President Goodluck Jonathan. However, complex legal challenges stalled the actual transfer until recently.
Legal Breakthrough in Jersey
The path to recovery was cleared in January 2024 when the Royal Court in Jersey issued a decisive ruling. The court determined that the funds were “more likely than not” the proceeds of corruption.
According to the judgment, third-party contractors had diverted public monies “for the benefit of senior Nigerian officials and their associates,” rather than for legitimate state purposes. Following this verdict, Mark Temple, the Attorney General of Jersey, formally signed the repatriation MoU with Nigerian officials in December.
Proceeds Earmarked for Critical Infrastructure
The Federal Government has outlined a specific destination for this tranche of the Abacha loot. Lateef Fagbemi, the Attorney General of the Federation and Minister of Justice, confirmed that the money will not be absorbed into general administrative costs.
Instead, the funds are strictly designated for the completion of a major highway connecting Abuja to Nigeria’s second-largest city. This aligns with recent trends where repatriated assets are tied to visible infrastructure projects to ensure accountability.
Fagbemi emphasized the significance of international cooperation in these recoveries.
“The successful recovery and repatriation of the forfeited assets underscores the effectiveness of Nigeria’s collaborative efforts with its international partners in ensuring that there is no safe haven for illicitly acquired wealth or assets moved to foreign jurisdictions,” Fagbemi stated.
International Cooperation Against Corruption
This agreement reinforces the relationship between Nigeria and Jersey, a British Crown Dependency with its own independent legal system. It builds upon previous collaborations that have already seen over $300 million returned to Nigeria.
Mark Temple highlighted the role of Jersey’s civil forfeiture laws in seizing these assets.
“The return demonstrates the strength of our civil forfeiture legislation as a powerful tool in the fight against corruption,” Temple noted.
Timeline of Abacha Loot Recoveries
The repatriation of funds stolen between 1993 and 1998 has spanned multiple Nigerian administrations. The total amount recovered from various global jurisdictions now runs into billions of dollars.
Notable recoveries include:
- 1999: $750 million recovered under General Abdulsalami Abubakar.
- 2002–2005: Over $2 billion recovered from Switzerland and Jersey under President Olusegun Obasanjo.
- 2012–2015: Approximately $1.38 billion repatriated from Switzerland, Liechtenstein, and the US under President Goodluck Jonathan.
- 2020: $311 million returned from the US and Jersey during the Muhammadu Buhari administration.
- 2023: $150 million recovered from France under the current Tinubu administration.
This latest inflow of $9.5 million represents the continued enforcement of global anti-corruption mechanisms, ensuring that stolen state assets remain pursued regardless of how much time has passed.
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