Country of Origin
Nigeria
Country of Asset Location
Switzerland
Disposition of Criminal Case(s)
There was a concluded investigation/prosecution related to this case in the country of origin (Nigeria).
There was an investigation/prosecution related to this case in the country of asset location (Switzerland) but the status is unknown.
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
Conviction-based criminal prosecution and confiscation
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
Notes
Specific factor that made the asset return possible was engagement of domestic counsel to work with investigating authorities was an ice-breaker. Information and evidence gathered from the initial investigation in country of asset location was helpful.
Assets returned
#1
Assets returned
6,900,000.00 USD
Assets Returned (USD equivalent)
$6,900,000.00
Date of return
January 2011
Asset Type at Time of Return
Cash/bank deposit
Agreement for Returned Assets
No
Assets Confiscated
#1
Date of confiscation
January 2011
Jurisdiction
Switzerland
Asset Type at Time of Confiscation
Cash/bank deposit
Assets Frozen/Seized
#1
Date of freeze/seizure
January 2011
Jurisdiction
Switzerland
USD Conversion date
September 2023
Date and Country of Case Submission
January 1, 2020
Nigeria
Data Source
Official information provided by country authorities