Jersey bank’s $300m seizure set to be returned to Nigeria

Addis Ababa, February 4, 2020 (FBC) -More than $300 million seized from Nigeria’s former dictator is set to be returned to the country from Jersey.

The money was laundered through the US under the presidency of Sani Abacha in the 1990s, before being transferred to the Channel Island, according to Jersey’s Civil Asset Recovery Fund.

The sum was recovered from a Jersey bank account belonging to shell company Doraville in June 2019.

The governments of Nigeria, the US and Jersey signed the agreement this week, according to BBC.