Jersey has announced the return of £7 million ($9.5 million) in funds deemed “tainted” to the Government of Nigeria, marking a major step in the recovery of assets allegedly obtained through corruption. The repatriated money is earmarked for critical infrastructure development, including a key highway connecting Nigeria’s capital, Abuja, with its second-largest city, Lagos.

Memorandum of Understanding Formalizes Asset Return

The funds will be transferred under a Memorandum of Understanding (MOU) signed in December 2025 by His Majesty’s Attorney General for Jersey, Mark Temple KC. This agreement builds upon previous asset repatriation arrangements between Jersey and Nigeria, which collectively returned more than $300 million (£230 million) in frozen or seized assets to the West African nation.

The MOU outlines how the recovered assets will be used transparently to support projects that directly benefit Nigerian citizens, ensuring that illicit funds do not return to private hands.

Background: Funds Linked to Corrupt Scheme

In January 2024, the Royal Court of Jersey determined that the funds held in a Jersey bank account were “more likely than not” proceeds from a corrupt scheme. Investigations revealed that third-party contractors diverted government money for the benefit of senior Nigerian officials and their associates, misappropriating public funds intended for national projects.

The court’s findings reinforced Jersey’s role as a global partner in combating corruption and money laundering, highlighting the jurisdiction’s civil forfeiture laws as a powerful tool to reclaim illicit wealth.

Nigeria’s Perspective on the Asset Repatriation

Nigeria’s Attorney-General and Minister of Justice, Lateef Fagbemi, welcomed the repatriation, emphasizing its alignment with the MOU’s terms. He stated:

“The successful recovery and repatriation of the forfeited assets underscores the effectiveness of Nigeria’s collaborative efforts with its international partners in ensuring that there is no safe haven for illicitly acquired wealth or assets moved to foreign jurisdictions.”

The returned funds will contribute directly to completing the final stages of a strategically important highway, strengthening connectivity between Nigeria’s major economic hubs and facilitating trade, transport, and regional development.

Jersey Highlights Legal Framework for Anti-Corruption Enforcement

Attorney General Mark Temple KC described the asset return as a demonstration of Jersey’s robust civil forfeiture legislation, which allows authorities to seize and repatriate assets suspected of being acquired through criminal activity. He said:

“The return of these funds demonstrates the strength of our civil forfeiture legislation as a powerful tool in the fight against corruption.”

The case highlights Jersey’s commitment to working with international partners, ensuring that illicitly acquired funds cannot hide behind foreign bank accounts or complex financial networks.

Implications for Future Asset Recovery

This latest repatriation underscores the importance of international cooperation in combating corruption and recovering stolen public funds. As more countries implement stringent financial oversight, jurisdictions like Jersey continue to serve as key allies in returning misappropriated assets to the countries of origin.

The repatriated funds will not only bolster infrastructure development but also signal to corrupt actors worldwide that illegally acquired wealth will not remain hidden abroad.