BREAKING: Nigeria set to receive another N3.9bn (£2.1m) looted funds from Bailiwick of Jersey

He mentioned, “The ministry achieved the next successes below its Worldwide Asset Restoration and Administration efforts.

“The Asset Sharing Settlement between the Federal Republic of Nigeria and the Bailiwick of Jersey was signed in February 2024 for the return of £2,125,944 (Two Million, One Hundred and Twenty-5 Thousand, 9 Hundred and Forty-4 GBP) proceeds of corruption.

“This has been authorised by the President to be utilized for the continuation of works on the Abuja-Kano Highway undertaking”.

Addressing the Glencore Settlement, the minister mentioned, “The ministry on behalf of the Federal Republic of Nigeria on April 25, 2024, concluded negotiation of a Settlement Settlement with Glencore Worldwide A.G. whereby Glencore is predicted to pay the sum of $50 million as penalty and compensation for sure actions in Nigeria”.

Talking on the Growth of the Proceeds of Crime (Restoration and Administration) Regulation, 2024 by the ministry, he defined that the target of the regulation ” is being developed with related companies to make sure transparency, accountability, and standardization within the administration of recovered property, consistent with international finest practices.”