US Court Orders Repatriation Of $8.9m Stolen Assets To Nigeria
The Royal Court of New Jersey, United States, has ordered the return of assets worth around $8.9 million to Nigeria.
The assets, worth over N5 billion, were allegedly stolen by government officials in Nigeria around 2014.
According to the BBC, Jersey’s Attorney General served a forfeiture notice to the Royal Court in Jersey in November 2023.
The court ruled that negotiations will begin with the Federal Government on returning the stolen funds, which were deposited in a Jersey bank account in 2014.
Money transfers were disguised as government-approved contracts for acquisition of arms during the Boko Haram insurgency from 2009 to 2015. The Jersey government stated that it is likely that a significant portion of the funds, intended for lawful arms transactions, was redirected through overseas bank accounts allegedly involving Shell companies.
The Attorney General’s office also said the funds were believed to have been stolen by members of the former ruling party, and were shared during the 2015 general elections in the country.
US Court Orders Repatriation Of $8.9m Stolen Assets To Nigeria
The Royal Court of New Jersey, United States, has ordered the return of assets worth around $8.9 million to Nigeria.
The assets, worth over N5 billion, were allegedly stolen by government officials in Nigeria around 2014.
According to the BBC, Jersey’s Attorney General served a forfeiture notice to the Royal Court in Jersey in November 2023.
The court ruled that negotiations will begin with the Federal Government on returning the stolen funds, which were deposited in a Jersey bank account in 2014.
Money transfers were disguised as government-approved contracts for acquisition of arms during the Boko Haram insurgency from 2009 to 2015. The Jersey government stated that it is likely that a significant portion of the funds, intended for lawful arms transactions, was redirected through overseas bank accounts allegedly involving Shell companies.
The Attorney General’s office also said the funds were believed to have been stolen by members of the former ruling party, and were shared during the 2015 general elections in the country.
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