A US court in New Jersey has ruled in favor of returning assets worth approximately $8.9 million, which were reportedly stolen by Nigerian government officials around 2014, to the country. The BBC reported that Jersey’s Attorney General issued a forfeiture notice to the Royal Court in November......READ THE FULL ARTICLE>>>
Negotiations will begin with the federal government on returning the stolen funds, which were deposited into a Jersey bank account in 2014. Money transfers disguised as government-approved contracts for purchasing arms during Boko Haram’s incursions from 2009 to 2015 are believed to have been used for stealing these funds, as reported by Vanguard.
The Jersey government stated that it is likely that a significant portion of the funds intended for lawful arms transactions were redirected through overseas bank accounts allegedly involving shell companies and shared during Nigeria’s general elections in 2015 by members of the former ruling party who stole them.
Mark Temple KC, His Majesty’s Attorney General, mentioned that his office collaborated closely with Nigeria’s Federal Republic Government to reclaim these assets on behalf of Nigerian citizens who are victims of this crime.
Mark said, “This case again demonstrates the effectiveness of the 2018 Forfeiture Law in recovering the proceeds of corruption and restoring that money to victims of crime. I now intend to negotiate an asset return agreement with the Federal Republic of Nigeria…CONTINUE READING>>
