Country of Origin
Nigeria
Other Jurisdictions Involved
Nigeria
Disposition of Criminal Case(s)
At the time of reporting(in 2020), there were concluded investigations/prosecutions related to this case in both the country of origin (Nigeria) and country of asset location.
Action Initiating Asset Recovery
By domestic investigation by law enforcement authorities (independent from foreign request)
Stage of Asset Recovery
Assets returned
Legal Basis for Asset Recovery in the country of origin
Non-conviction based confiscation (NCB)
Out-of-court Settlement Agreement
Legal Basis for International Cooperation
UNCAC
Manner of Asset Transfer
Direct wire transfer to a centralized government account (e.g. general budget)
Contributing Factors in Asset Recovery
Other
Specify Other
Specific factor that made the asset return possible was that there was collaboration between private counsel engaged and investigating authorities. The thorough investigation compelled the company to seek settlement to avoid prosecution.
Assets returned
#1
Assets returned
3,000,000.00 USD
Assets Returned (USD equivalent)
$3,000,000.00
Date of return
July 2012
Asset Type at Time of Return
Cash/bank deposit
Agreement for Returned Assets
No
Asset Type at Time of Confiscation
Cash/bank deposit
USD Conversion date
September 2020
Date and Country of Case Submission
January 1, 2020
Nigeria
Data Source
Official information provided by country authorities