Channels Island to return dictator’s N90bn loot

The State of Jersey in Channels Island is set to return £315 million (N90,040,634,775.00) to Nigeria as part of funds recovered from late dictator, Sani Abacha.

The island had earlier returned the sum of £140 million (N40,018,059,900.00) to Nigeria in two batches.

The new development was announced by the civic head of Jersey, Michael Birt, during a dinner in honour of Nigeria’s High Commissioner to the UK, Dalhatu Tafida who visited the island.

“We have done a lot to clean up the image of the Island as a safe haven for stolen wealth,” Birt said.

“What we have in place is a transparent and legal finance heaven where only legal funds can be deposited and accessed by investors,” he added.

The money was reportedly looted on Abacha’s behalf by Indian businessman, Raj Bhojwani who is currently serving an eight-year sentence in a UK prison.