US court to give back to Nigeria more than ₦5 billion in stolen assets

US court

A US court in New Jersey has decided to allow the return of assets estimated to be worth $8.9 million that were purportedly taken in 2014 by Nigerian government officials to their home nation.

The Attorney General of Jersey reportedly delivered a forfeiture notice to the Royal Court of Jersey in November, according to the BBC.

The court decided that talks with the federal authorities on the return of the stolen money, which had been placed in a bank account in Jersey in 2014, will start.

Money transfers were concealed as government-approved contracts for the acquisition of armaments during Boko Haram’s invasions in Nigeria from 2009 to 2015.

“Criminal victims”

The government of Jersey declared that there’s a good chance that a large amount of money meant for legal arms deals was diverted via foreign bank accounts purportedly run by shell corporations.

Additionally, the Attorney General’s office stated that the money was thought to have been taken during the nation’s general elections in 2015 by members of the previous ruling party.

His Majesty’s Attorney General, Mark Temple KC, stated that the Federal Republic of Nigeria and the Government of Jersey worked closely together to recover the assets on behalf of the Nigerian people.

He declared: “This case once more demonstrates the efficacy of the 2018 Forfeiture Law in reimbursing victims of crime with the proceeds of corruption.”

“I now plan to work with the Federal Republic of Nigeria to negotiate an asset return agreement.”

READ ALSO: Shell to Offload Nigeria Onshore Oil Business for $1.3 Billion – Hifox News

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