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Home » UK Repatriates $9.5 Million in Recovered Looted Funds to Nigeria

UK Repatriates $9.5 Million in Recovered Looted Funds to Nigeria

The Bailiwick of Jersey signed an MoU with Nigeria to return over $9 million in funds deemed to be the proceeds of corruption. These recovered funds will support critical infrastructure projects in Nigeria.

Peter Oluka by Peter Oluka
January 9, 2026
in Finance
Reading Time: 2 mins read
0
UK Repatriates $9.5 Million in Recovered Looted Funds to Nigeria

UK Returns $9.5 Million to Nigeria

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Mark Temple KC, His Majesty’s attorney general for Jersey has signed a Memorandum of Understanding in December 2025 to facilitate the repatriate of more than $9.5 million to the Government of Nigeria, believed to be proceed of corruption.

The funds are expected to be utilized as additional resources for providing critical infrastructure project.

On 29 November 2023, the Attorney General applied to the Royal Court of Jersey under the Forfeiture of Assets (Civil Proceedings) (Jersey) Law 2018 in respect of tainted property held in a Jersey bank account.

UK returns funds
L-r: Mark Temple KC, His Majesty’s attorney general, and Lateef Fagbemi SAN, the attorney general of the Federation and Minister of Justice for Nigeria

On 12 January 2024, the Royal Court granted a forfeiture order after determining that the funds were more likely than not the proceeds of a corrupt scheme in which third-party contractors diverted government monies for the benefit of senior Nigerian officials and their associates.

The MOU builds on two previous agreements between Jersey and Nigeria, under which more than $300 million has already been repatriated to support three major infrastructure projects: the Lagos-Ibadan Expressway; the Second Niger Bridge; and the Abuja-Kano Road.

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The first two projects are now complete. Under the terms of the MOU, the forfeited funds will contribute to the final stages of the Abuja-Kano Road, a 375 km highway that will provide a vital link between Nigeria’s capital and its second-largest city.

Mark Temple KC, His Majesty’s attorney general, said:

“This successful return demonstrates the strength of our civil forfeiture legislation as a powerful tool in the fight against corruption. I thank the Nigerian authorities for their cooperation and the Economic Crime and Confiscation Unit in my Department for their unwavering commitment to recover the proceeds of crime.”

Lateef Fagbemi SAN, the attorney general of the Federation and Minister of Justice, said:

“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. I want to, on behalf of the Government of the Federal Republic of Nigeria, thank the Bailiwick of Jersey for the cooperation accorded Nigeria during the Recovery exercise. I want to further assure the Bailiwick of Jersey, that the repatriated assets will be judiciously utilized in line with the terms of the executed Memorandum of Understanding.”

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Peter Oluka

Peter Oluka (@peterolukai), editor of Techeconomy, is a multi-award winner practicing Journalist. Peter’s media practice cuts across Media Relations | Marketing| Advertising, other Communications interests. Contact: peter.oluka@techeconomy.ng

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