With New MoU, Jersey to Return Over $9.5 Million Stolen Funds to Nigeria

Michael Olugbode in Abuja

The federal government of Nigeria is set to receive more than $9.5 million in recovered funds following the signing of a Memorandum of Understanding (MoU) with the Bailiwick of Jersey, marking another milestone in international cooperation against corruption.

A statement yesterday, disclosed that the MoU was signed in December 2025 by His Majesty’s Attorney General for Jersey, Mark Temple KC. It provides for the return of funds adjudged to be proceeds of corruption and forfeited by the Royal Court of Jersey to Nigeria.

The repatriated money would be applied to the completion of a major infrastructure project in Nigeria.Court documents showed that on November 29, 2023, the Attorney General of Jersey filed a civil forfeiture application under the Forfeiture of Assets (Civil Proceedings) (Jersey) Law 2018, targeting funds held in a Jersey bank account.Also, the statement showed that on January 12, 2024, the Royal Court granted the forfeiture order, ruling that the funds were more likely than not linked to a corrupt scheme involving the diversion of public resources by contractors for the benefit of senior Nigerian officials and their associates.

The latest recovery builds on previous agreements between Jersey and Nigeria that have led to the repatriation of more than $300 million over the years.Those funds were deployed to finance strategic infrastructure projects, including the Lagos-Ibadan Expressway, the Second Niger Bridge, and the Abuja-Kano Road. While the Lagos-Ibadan Expressway and the Second Niger Bridge have been completed, the newly returned funds will be channeled towards the final stages of the 375-kilometre Abuja-Kano highway, a critical route linking Abuja to Kano.

Speaking on the development, Temple KC said the successful recovery and return of the funds underscored the strength of Jersey’s civil forfeiture framework as an effective tool in combating financial crimes. He also praised the collaboration between Jersey authorities and Nigerian institutions throughout the recovery process.

For his part, Nigeria’s Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, welcomed the repatriation, describing it as evidence of Nigeria’s growing partnerships with international jurisdictions to ensure that illicitly acquired assets find no safe haven abroad. He assured that the recovered funds would be transparently and responsibly utilized in line with the terms of the MoU.

The latest agreement reinforces ongoing global efforts to trace, seize and return stolen public assets, while supporting Nigeria’s drive to strengthen accountability and deliver critical infrastructure for its citizens.