In a significant victory in the global fight against corruption and financial crimes, the Jersey Royal Court has ruled that stolen assets valued at £6.9 million ($8.9 million) be returned to Nigeria. The decision followed a thorough investigation prompted by a forfeiture notice issued in November 2023 by Jersey’s Attorney General, Mark Temple KC. The notice alleged that the funds, deposited in a Jersey bank account, were tainted money that was misappropriated by Nigerian government officials in 2014.
The embezzled money was purportedly presented as payment for official contracts for procuring arms when former President Goodluck Jonathan was in office (2010 to 2015). This case relates to the activities of the former National Security Advisor (NSA), Mr. Sambo Dasuki, and his proxies, who were accused of misappropriating money for security equipment.
The Jersey court’s findings revealed that a substantial portion of the funds, initially designated for legitimate arms deals, had been diverted through foreign bank accounts and shell companies linked to former security officers.
Attorney-General Mark Temple KC emphasized the collaborative effort between Jersey and the Federal Republic of Nigeria in the recovery process. Temple highlighted that plans are underway to negotiate an asset return agreement with the Nigerian government. He noted that “This case again demonstrates the effectiveness of the 2018 Forfeiture Law in recovering the proceeds of corruption and restoring money to victims of crime,”
The decision by Jersey’s Royal Court represents a crucial step forward in the global fight against corruption, signaling the commitment of jurisdictions to collaborate in holding perpetrators accountable and returning misappropriated funds to their rightful owners.
The African Center for Governance, Asset Recovery, and Sustainable Development (otherwise known as “the African Center”) is an independent, civil society organization with headquarters in Abuja, Nigeria. The African Center collaborates with national governments, international and regional organizations, as well as non-governmental organizations to promote good governance, sustainable development, and the rule of law. Read more: https://lnkd.in/dhAxzGEr
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