- He thanked the Jersey authorities for their cooperation and assured that the returned funds would be transparently and responsibly utilised
- The latest MoU builds on earlier agreements between both governments, which have already resulted in the repatriation of more than $300 million
- The court found that third-party contractors had channelled public funds for the benefit of senior Nigerian officials and their associates
The Federal Government has secured another breakthrough in its international asset recovery drive following an agreement with the Bailiwick of Jersey for the return of over $9.5 million traced to corruption-linked activities, with the funds set to be invested in a key national road project.
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Eko Hot Blog reports that the agreement was sealed through a Memorandum of Understanding signed in December 2025 by Jersey’s Attorney General, Mark Temple KC, and later ratified in Abuja on Friday, January 9, 2026, according to a statement released by the British High Commission.
The repatriation follows a ruling by the Royal Court of Jersey, which in January 2024 ordered the forfeiture of the funds after determining that the money held in a Jersey bank account was likely derived from corrupt dealings involving diverted Nigerian government resources.
The court found that third-party contractors had channelled public funds for the benefit of senior Nigerian officials and their associates, leading to the application for forfeiture under Jersey’s civil asset recovery laws.
Attorney General Mark Temple described the development as evidence of the effectiveness of Jersey’s legal framework in tackling financial crime, noting that the process reflects strong collaboration between Jersey authorities and Nigerian institutions in combating corruption.
He commended Nigerian agencies for their cooperation and praised Jersey’s Economic Crime and Confiscation Unit for its role in ensuring that proceeds of crime are recovered and returned to their rightful owners.
The latest MoU builds on earlier agreements between both governments, which have already resulted in the repatriation of more than $300 million. Those funds were applied to major infrastructure projects including the Lagos–Ibadan Expressway, the Second Niger Bridge and the Abuja–Kano Road, with the first two projects now completed.
Under the new arrangement, the recovered $9.5 million will be directed towards the final phase of the Abuja–Kano Road, a 375-kilometre highway considered crucial for trade, mobility and economic integration between northern and central Nigeria.
Nigeria’s Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), welcomed the recovery, saying it reinforces Nigeria’s resolve to pursue stolen assets wherever they are hidden and deny corrupt actors safe havens abroad.
He thanked the Jersey authorities for their cooperation and assured that the returned funds would be transparently and responsibly utilised in accordance with the terms of the agreement, reaffirming the government’s commitment to accountability and public interest-driven use of recovered assets.
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