Recovering Nigeria’s Lost Millions

Authorities in Jersey say they have seized more than $267 million from the family and associates of late Nigerian military dictator Sani Abacha. According to Jersey’s Civil Asset Recovery Fund, the laundered funds recovered from confiscated assets, belonging to the son of the late dictator, Mohammed Abacha was “derived from corruption,” during the military leader’s rule in Nigeria. The money was found in a Channel Islands account held by shell company Doraville Properties Corporation. It had been frozen by a federal court in Washington in 2014 at the request of prosecutors pursuing criminal proceedings against Mohammed Abacha and his associates. The stolen funds have now been recovered and paid into a special recovery fund after a five-year legal battle, and it will be shared between the Nigerian government, Jersey and the US government, according to Jersey authorities overseeing the case.SOURCE: CNN

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