Jersey, Nigeria and the US are set to return more than US$300 million in confiscated funds to the people of Nigeria in a landmark agreement.
On 3 February 2020, the three jurisdictions entered into an Asset Recovery Agreement to repatriate over US$300 million of forfeited assets to Nigeria.
The funds were laundered through the US banking system and then held in Jersey bank accounts in under Doraville Properties Corporation, a British Virgin Islands company, and the son of the former Nigerian head of state, General Sani Abacha.
In 2014 a US Federal Court in Washington DC forfeited the money as property involved...
