A New Jersey court in the United States has ruled that assets worth around $8.9 million stolen by government officials in Nigeria around 2014 can be returned to Nigeria.
Following the service of a forfeiture notice by Jersey’s Attorney General to the Royal Court in November, the court concluded that funds deposited in a Jersey bank account were likely misappropriated by officials in the Nigerian Government in 2014.
Negotiations for the return of these assets will now take place with the Federal Republic of Nigeria. The transfer of money was disguised as government-sanctioned contracts for arms purchases during the Boko Haram insurgency in Nigeria between 2009 and 2015.
The Jersey government indicated that it is likely that a significant portion of the funds earmarked for genuine arms transactions was redirected through international bank accounts associated with shell companies.
Mark Temple KC, His Majesty’s Attorney General stated, “This case again demonstrates the effectiveness of the 2018 Forfeiture Law in recovering the proceeds of corruption and restoring that money to victims of crime.”
‘Victims of crime’
The Jersey government stated that it is likely that a significant portion of the funds intended for lawful arms transactions was redirected through overseas bank accounts allegedly involving shell companies.
The Attorney General’s office also said the funds were believed to have been stolen by members of the former ruling party and was shared during the 2015 general elections in the country.
Mark Temple KC, the Attorney General of His Majesty, mentioned that the Government of Jersey collaborated closely with the Federal Republic of Nigeria to reclaim the assets on behalf of the Nigerian people.
He said, “This case again demonstrates the effectiveness of the 2018 Forfeiture Law in recovering the proceeds of corruption and restoring that money to victims of crime.
“I now intend to negotiate an asset return agreement with the Federal Republic of Nigeria.”