Authorities in Jersey, a British Crown Dependency located between the United Kingdom and France, are set to repatriate more than $9.5 million (£7 million) to the Nigerian government, marking another milestone in Nigeria’s ongoing asset recovery efforts.
The recovered funds will be channeled into critical infrastructure development, with a focus on completing key stages of the Abuja–Lagos highway.
The repatriation follows a Memorandum of Understanding (MoU) signed in December between Jersey’s Attorney General, Mark Temple KC, and the Federal Government of Nigeria. This latest agreement builds on two previous arrangements between both parties that led to the return of over $300 million previously held in bank accounts on the island.
Nigeria’s Minister of Justice and Attorney-General of the Federation, Lateef Fagbemi, confirmed that the funds would be deployed strictly in accordance with the terms outlined in the MoU. He described the development as a strong signal of Nigeria’s commitment to fighting corruption and recovering illicitly acquired assets stashed abroad.
According to Fagbemi, the successful recovery and return of the funds highlight the effectiveness of Nigeria’s collaboration with international partners. He emphasized that such partnerships reinforce the message that there is no safe haven for illegally acquired wealth, regardless of where it is hidden.
The funds are expected to provide a significant boost to infrastructure financing, particularly for the final construction phases of the strategic highway linking Nigeria’s political capital, Abuja, with its commercial hub, Lagos. The road project is seen as vital to improving trade, mobility, and economic integration across the country.
This latest recovery further strengthens Nigeria’s track record in asset repatriation and reflects growing global cooperation in combating financial crimes and ensuring that stolen public funds are returned to benefit citizens.
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