Return of $9 Million Confiscated Funds to Nigeria

Almost $9 million stored in tax havens on the English island of Jersey will be returned to Nigeria after being confiscated by the Royal Court.

The funds were intended for the purchase of weapons and aeronautical equipment between 2009 and 2015 in the fight against Boko Haram.

However, they were later diverted to shell companies belonging to members of President Goodluck Jonathan’s government.

Meanwhile, the Economic Crime and Forfeiture Unit of the Jersey Solicitors Department praised Abuja’s contribution.

The date for the restitution of the funds has not been chosen, but the government will decide upon approval from the Royal Court of Jersey. This is not the first time Jersey authorities have seized money funnelled into the Island from Nigeria.