Nigeria’s ongoing governance and institutional reforms are yielding tangible results, with over $9.5 million in previously seized funds set to be returned following a newly signed Memorandum of Understanding between Nigeria and the Bailiwick of Jersey.
The agreement, confirmed in Abuja in January 2026, reflects growing international confidence in Nigeria’s political leadership, accountability frameworks, and commitment to transparent asset recovery and utilisation. It marks another milestone in Nigeria’s broader effort to reclaim public resources and reinvest them in national development.
The funds, which had been held abroad following earlier investigations, were formally cleared for repatriation after legal processes concluded. Their release is widely seen as recognition of Nigeria’s improved governance climate and its ability to engage international partners through structured, credible agreements rather than protracted disputes.
Crucially, the recovered sum will be channelled into infrastructure development, specifically the final phase of the Abuja–Kano Road, a strategic highway linking the nation’s capital with one of its most important commercial corridors. The project underscores Nigeria’s renewed focus on translating recovered assets into visible economic value for citizens.
This latest recovery builds on earlier asset return arrangements that have supported major national projects, including the Lagos–Ibadan Expressway and the Second Niger Bridge, both now completed. Collectively, these outcomes highlight a shift from asset loss to asset recovery, driven by institutional strengthening and clearer governance processes.
Nigeria’s Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), described the development as evidence that Nigeria’s reforms are working. He emphasised that Nigeria’s engagement with international jurisdictions is increasingly defined by trust, cooperation, and mutual respect.
The successful execution of the memorandum also signals that Nigeria is firmly on the right path, building confidence globally while prioritising national interest at home. As economic and political stability continues to deepen, the country is demonstrating that responsible leadership and reform can unlock long-standing gains, even beyond its borders.
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