US to Return $8.9m Looted Under Jonathan to Nigeria
A Royal Court in Jersey, United States, has reportedly ruled that stolen assets worth £6.9m ($8.9m) be repatriated to Nigeria.
The said assets were allegedly diverted by Nigerian government officials in 2014 under the guise of purchasing arms to fight Boko Haram terrorists.
In the legal ruling, the court established that the funds in question had been deposited in a Jersey bank account and were not utilized for the intended purpose of arms purchase. Temple, representing the Government of Jersey, emphasized the close partnership with Nigeria in the ongoing efforts for the repatriation of these funds.
The Attorney General (AG) alleged that a portion of the funds had been distributed to family members of politicians associated with the then-ruling Peoples Democratic Party in the lead-up to the 2015 general election.
The AG underscored the significance of the 2018 Forfeiture Law, citing its effectiveness in recovering the proceeds of corruption and returning them to the victims of these crimes.
In a proactive move, the AG expressed the intention to initiate negotiations for an asset return agreement with the Federal Republic of Nigeria.
This announcement reflects a commitment to further collaboration between the two entities, marking a crucial step in addressing issues related to financial impropriety and restitution.