In a recent development, almost $9 million held in tax havens in the English island of Jersey is set to be returned to Nigeria. The funds, initially confiscated by the Royal Court, are now slated for repatriation to Abuja following a court decision.
The Jersey court revealed that the funds, earmarked for the acquisition of weapons and aeronautical equipment between 2009 and 2015 in the fight against Boko Haram, were diverted to shell companies associated with members of former President Goodluck Jonathan’s government.
The Economic Crime and Forfeiture Unit of the Jersey Solicitors Department, in collaboration with Nigerian authorities, commended Abuja’s substantial contribution to the case. The specific date for the restitution of the funds is yet to be determined and will be decided by the government after approval by the Royal Court of Jersey.
This incident is not the first instance where Jersey authorities have seized funds originating from Africa’s most populous nation. In 2020, over $300 million, embezzled by General Sani Abacha and his family and concealed in Jersey bank accounts, was successfully repatriated to Nigeria following a historic agreement.
