By Joy Yesufu
Nigeria is set to receive an additional $9.5 million (£7 million) in recovered assets believed to be part of funds looted during the military regime of late Head of State, General Sani Abacha, from the British Crown Dependency of Jersey.
According to a report by the BBC, authorities in Jersey have agreed to repatriate the funds to the Nigerian government following the conclusion of prolonged legal proceedings that had stalled their return for several years.
The money, classified by Jersey authorities as proceeds of “tainted property,” forms part of the vast fortune allegedly siphoned from Nigeria’s public coffers during Abacha’s rule between 1993 and 1998. The funds were traced to a bank account in Jersey and became the subject of extensive litigation.
Although the assets were initially identified and recovered during the administration of former President Goodluck Jonathan, court challenges and procedural hurdles delayed their repatriation.
A breakthrough was achieved in December 2025, when Jersey’s Attorney-General, Mark Temple, signed a Memorandum of Understanding (MoU) with Nigerian authorities, paving the way for the transfer of the funds.
The latest agreement builds on previous repatriation arrangements between Nigeria and Jersey, resulting in the return of over $300 million (£230 million) in recovered assets to Nigeria.
The late General Sani Abacha is widely accused of orchestrating one of the largest cases of state looting in modern history, with estimates suggesting that billions of dollars were diverted through foreign bank accounts and shell companies during his five-year rule.
Since Nigeria’s return to democratic governance in 1999, successive administrations have worked with international partners to trace, recover, and repatriate Abacha-linked assets stashed abroad, particularly in Switzerland, the United Kingdom, the United States, and other financial jurisdictions.
Recovered funds in previous years have often been tied to specific development projects under international monitoring agreements to ensure transparency and accountability in their use.
