Nigeria is set to receive more than $9.5 million in recovered public funds from the Bailiwick of Jersey, marking another milestone in the country’s long-running effort to reclaim assets linked to corruption and redirect them to national development.
The funds will be returned under a newly signed Memorandum of Understanding (MoU) between both jurisdictions, an agreement designed to deepen cooperation on cross-border asset recovery and financial crime enforcement.
According to official disclosures, authorities in Jersey initiated civil forfeiture proceedings after tracing the money to accounts believed to be connected to the misappropriation of Nigerian public resources.
A local court later ruled that the funds were proceeds of corruption and ordered their confiscation.
Investigators established that the money was allegedly siphoned through a network involving contractors who diverted government funds for the benefit of senior public officials and their associates, prompting legal action under Jersey’s asset forfeiture laws.
The latest agreement builds on earlier partnerships between Nigeria and Jersey, which have already resulted in the repatriation of over $300 million.
Those previous recoveries were channeled into major infrastructure projects, including the Lagos-Ibadan Expressway, the Second Niger Bridge and sections of the Abuja-Kano Road.
Under the current arrangement, the incoming $9.5 million will be deployed to support the final phase of the Abuja-Kano Road, a strategic 375-kilometre highway linking the federal capital with one of Nigeria’s largest commercial centres.
Jersey’s Attorney General, Mark Temple KC, said the development reflects the growing effectiveness of civil forfeiture as a tool against financial crime.
He noted that sustained international collaboration remains critical to denying corrupt actors access to illicit wealth.
“This outcome shows that well-designed civil recovery laws can deliver real results when countries work together,” Temple said, while commending cooperation between Jersey authorities and Nigerian institutions.
On Nigeria’s side, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, described the recovery as a significant reinforcement of the country’s anti-corruption agenda.
XHe said the agreement demonstrates that stolen public funds can be traced and recovered, regardless of where they are hidden.
Fagbemi also assured that the funds would be managed transparently and strictly in line with the terms of the MoU, adding that accountability remains central to Nigeria’s asset recovery framework.
Overall, the latest recovery underscores Nigeria’s broader strategy of reclaiming looted assets and reinvesting them in critical infrastructure, with authorities insisting that sustained international cooperation remains key to curbing corruption and financing development.