Jersey To Return $9.5m Abacha Loot To Nigeria
Jersey, a British Crown Dependency, has agreed to repatriate more than $9.5m (£7m) to the Nigerian government.
The money, described as proceeds of “tainted property”, is believed to be part of the vast fortune stolen by the late former military head of state, Sani Abacha, who ruled Nigeria between 1993 and 1998.
The funds were kept in a bank account in Jersey and had been tied up in legal proceedings for several years.
Although the assets were first recovered during the administration of former President Goodluck Jonathan, court challenges stalled their return to Nigeria.
Progress was made in December when Jersey’s Attorney-General, Mark Temple, signed a memorandum of understanding (MoU) with Nigerian authorities to enable the repatriation.
The BBC reports that the latest agreement builds on two earlier arrangements between Jersey and Nigeria that led to the return of more than $300m (£230m) in recovered assets.
