The Federal Government of Nigeria is set to receive a significant boost of over $9.5 million in looted funds repatriated from the Bailiwick of Jersey. This recovery follows a landmark agreement signed in December 2025, marking another step in international efforts to return stolen wealth for Nigeria's public benefit.
Details of the Asset Recovery Agreement
Officials from Nigeria and Jersey confirmed that a Memorandum of Understanding (MoU) was formally concluded in Abuja on Friday, January 9, 2026. The agreement was signed by His Majesty’s Attorney General for Jersey, Mark Temple KC, in the previous month. The British High Commission, through its representative Stephen Odekunle, facilitated the disclosure of this development.
The funds in question were forfeited by the Royal Court of Jersey on January 12, 2024. The court determined that the money, held in a Jersey bank account, was "more likely than not" the proceeds of corruption. The ruling stated that third-party contractors had diverted Nigerian government funds for the benefit of senior officials and their associates.
Destination of the Recovered Funds
In a move aligned with previous repatriation efforts, the Nigerian government has designated the $9.5 million for a critical national infrastructure project. The repatriated assets will be channelled specifically into completing the Abuja–Kano Road.
This 375-kilometre highway is a vital transport link connecting the nation's capital to its second-largest city. The injection of these recovered funds is expected to accelerate the final stages of this crucial project.
A History of Cooperation and Future Commitment
This latest MoU builds upon two earlier agreements between Jersey and Nigeria, which have already facilitated the return of more than $300 million in looted assets. Those previous funds supported three major projects:
- The Lagos–Ibadan Expressway
- The Second Niger Bridge
- The Abuja–Kano Road
The first two projects on this list have now been completed, demonstrating a tangible track record of using recovered assets for public good.
Jersey's Attorney General, Mark Temple KC, highlighted that the recovery showcases the effectiveness of the island's anti-corruption laws, particularly its Forfeiture of Assets (Civil Proceedings) (Jersey) Law 2018. He praised the cooperation with Nigerian authorities and his department's Economic Crime and Confiscation Unit.
On the Nigerian side, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), welcomed the development. He stated it reflects Nigeria's resolve to track illicit funds overseas and assured that the repatriated assets would be "judiciously utilised" in line with the MoU's terms. Fagbemi emphasized that the success underscores there is "no safe haven for illicitly acquired wealth" in cooperation with international partners.
This repatriation reinforces the ongoing collaborative fight against corruption and sets a precedent for the return of stolen assets to fund Nigeria's infrastructure development.
