The United Kingdom and Nigeria have signed a Memorandum of Understanding (MoU) to facilitate the return of $9.5 million in looted funds to the Nigerian government. The agreement, signed by the UK’s Attorney General for Jersey, Mark Temple, and Nigerian officials in December 2025, marks a significant step in the UK’s commitment to helping Nigeria recover proceeds of corruption stashed abroad.
The MoU builds on two earlier agreements between Jersey and Nigeria, which have already resulted in the repatriation of more than $300 million in recovered assets. The UK government has been working with its Crown Dependencies to trace, confiscate, and return illicit funds. Under those prior agreements, the UK facilitated the return of assets linked to former Nigerian officials; the money was then used to fund critical infrastructure projects such as the Lagos‑Ibadan Expressway and the Second Niger Bridge.
Under the latest MoU, the recovered $9.5 million will support the completion of the 375‑kilometre Abuja‑Kano Road project, linking Nigeria’s capital with its second‑largest city. This project is part of the government’s broader effort to improve infrastructure and boost economic growth, and the repatriated funds are expected to have a significant impact on the country’s economy.
The recovery stems from a court order issued by the Royal Court of Jersey in January 2024, which determined that the funds were suspicious proceeds of corruption. The order was sought by the Attorney General of Jersey under the Forfeiture of Assets (Civil Proceedings) (Jersey) Law 2018, demonstrating the effectiveness of the UK’s civil forfeiture legislation in combating corruption.
Nigeria’s Attorney General and Minister of Justice, Lateef Fagbemi, praised the collaboration, noting that it underscores the effectiveness of joint efforts to ensure there is no safe haven for illicitly acquired wealth. The Nigerian government has assured that the repatriated assets will be used judiciously in line with the MoU’s terms.
The return of the looted funds represents a significant advance in the fight against corruption and highlights the commitment of both the UK and Nigerian governments to transparency and accountability. The successful recovery and repatriation are expected to boost Nigeria’s economy and improve citizens’ lives, with continued collaboration aimed at retrieving more illicit funds and promoting further economic development.
Comments are closed for this story.