Country of Origin
Nigeria
Country of Asset Location
Liechtenstein
Disposition of Criminal Case(s)
There were concluded investigations/prosecutions related to this case in both the country of origin (Nigeria) and country of asset location (Liechtenstein).
Action Initiating Asset Recovery
By an MLA request from the country of origin
Stage of Asset Recovery
Assets returned
Legal Basis for Asset Recovery in the country of origin
Conviction-based criminal prosecution and confiscation
Non-conviction based confiscation (NCB)
Enforcement of foreign criminal confiscation order
Enforcement of foreign NCB confiscation order
Legal Basis for International Cooperation
UNCAC
Bilateral Mutual Legal Assistance Treaty
Manner of Asset Transfer
Direct wire transfer to a centralized government account (e.g. general budget)
Contributing Factors in Asset Recovery
Illicit Enrichment Law
FIU’s power to suspend suspicious transactions
Notes
Specific factors that helped make the return possible were: 1. Application of illicit enrichment law in spite of the death of the Principal suspect 2. Engagement of private counsel to act on behalf of Nigeria. 3. Use of FIU's power to suspend suspicious transactions. 4. Tracing of illicit funds by investigating countries. 5. Effective co-operation between requesting and requested states and victim country.
Assets returned
#1
Assets returned
10,120,510.00 USD
Assets Returned (USD equivalent)
$10,120,510.00
Date of return
2013
Asset Type at Time of Return
Cash/bank deposit
Agreement for Returned Assets
Yes – agreement under UNCAC Art.57(5)
Monitoring and Disbursement Arrangements
Disbursement of funds to be monitored by the World Bank.
Assets Confiscated
#1
Date of confiscation
2013
Jurisdiction
Liechtenstein
Asset Type at Time of Confiscation
Cash/bank deposit
USD Conversion date
2023
Date and Country of Case Submission
January 1, 2020
Nigeria
Data Source
Official information provided by country authorities