- Laundered funds by the former Nigeria's dictator, Sani Abacha, has been seized from Channels Island by a British court
- The money seized was £211 million which was said to have been deposited by Doraville Properties Corporation
- The fund will be held by the UK authority until Nigeria, US, and Jersey authorities come to an agreement on how the funds should be distributed
Laundered funds by Nigeria’s former head of state, Sani Abacha, has been seized from a Jersey bank, Channels Islands, by a British court.
The seized money was worth £211 million and was said to have been deposited in to the bank by one Doraville Properties Corporation, a Bristish Virg*n Island company, Metro UK reports.
The money is presently being held by the British government until the concerned authorities in Jersey, US, and Nigeria all come to an agreement on the distribution of the loot.
If the Jersey eventually keeps the money, it will put into the Criminal Confiscation Fund (CCF) as is the law.
Such kept fund will be used to pay for various projects as has been seen in the past where new political station and the developments at La Moye Prison were built with CCF money.
Attorney General Robert MacRae said the funds were retrained at the request of the US through whose banking system the money was laundered into the country.
He also added that through the confiscation, the Jersey government has shown its intolerance for money laundering and international financial crime.
“In restraining the funds at the request of the United States of America, through whose banking system the funds were laundered prior to arriving here, and in achieving the payment of the bulk of the funds into the Civil Asset Recovery Fund, Jersey has once again demonstrated its commitment to tackling international financial crime and money laundering,” he said.
It should be noted that the request for the seizure of the money by the US authorities was made in 2014.
Also, the purpose of restraining the money was to keep it safe until a final civil asset recovery order could be registered in the Royal court.
Doraville had in 2016 applied that retraining be thrown out but the Royal Court dismissed the application in 2016.
A year after, in 2017, Doraville again challenged the court’s decision and in February 2018, it was also rejected.
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Meanwhile, Legit.ng earlier reported that the Africa Network for Environment and Economic Justice (ANEEJ) said that more than N6 billion was disbursed from the $322.5m recovered from late former head of state, Sani Abacha.
This was revealed by Rev. David Ugolor at the pre-OGP summit of the CSO with stakeholders in Abuja.
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Nigeria News 2018: Abacha Loot - The Federal Government To Share $322M To Nigerians | Legit TV