Select a region
A complex international investigation has uncovered how corrupt Nigerian officials embezzled $9m intended to combat an Islamist militant group – and diverted the cash to Jersey.
But that money was seized by the island's Royal Court on Friday, following proceedings initiated last November.
The funds, initially transferred to the island in 2014, were part of a larger embezzlement operation diverting government funds allocated for arms and aviation equipment to combat Boko Haram.
Jersey's Law Officers' Department disclosed that a significant portion of the funds, designated for arms deals from 2009 to 2015, were funnelled through foreign bank accounts and shell companies linked to the former ruling party. The money was later distributed among its members and family associates.
They said it was "probable" that the "tainted property" in Jersey would have been used for this sort of "illicit transaction".
Attorney General Mark Temple KC initiated the legal proceedings, serving a forfeiture notice under the Forfeiture of Assets (Civil Proceedings) (Jersey) Law 2018 last November.
The Royal Court approved the forfeiture on Friday, and the recovered funds are set to be returned to Nigeria.
The Law Officers' Department said: "The Attorney General successfully demonstrated that the tainted property belonged to the Federal Republic of Nigeria, likely stolen from its people by high-ranking officials in 2014."
Mr Temple described the court order as the conclusion of a "complex and long-running asset forfeiture investigation".
He expressed gratitude to the Economic Crime and Confiscation Unit, Financial Intelligence Unit Jersey, and the National Prosecuting Authority of South Africa for their collaborative efforts in recovering the proceeds of corruption.
"The effectiveness of the 2018 Forfeiture Law in recovering the proceeds of corruption and restoring that money to victims of crime is showcased by this case," Temple emphasised.
He now plans to negotiate an asset return agreement with the Federal Republic of Nigeria.
Comments
Comments on this story express the views of the commentator only, not Bailiwick Publishing. We are unable to guarantee the accuracy of any of those comments.