Nigeria has recovered only about $5 billion of an estimated $400 billion stolen from public coffers since the 1980s, underscoring the vast scale of corruption losses and the limited success of international asset recovery efforts, according to government disclosures, court records and academic research.
Peer-reviewed research and official records show that corruption drained more than $400 billion from state coffers from the 1960s through the late 2000s, with theft continuing thereafter. Much of the money was laundered abroad through international banks, shell companies and offshore centers and tax havens, ending up in jurisdictions including Switzerland, the United Kingdom, the United States and parts of Europe.
The most documented case involves the regime of Sani Abacha. Swiss courts established that billions were siphoned abroad between 1993 and 1998, to foreign accounts controlled by Abacha and associates. Since 1999, Switzerland has returned over $1 billion in tranches. In 2020, the United States repatriated $311 million after forfeiture proceedings, and a further $23 million later, with additional sums returned via the UK following related judgments.
Beyond Abacha, foreign courts have ordered seizures tied to other former officials. Assets linked to former petroleum minister Diezani Alison-Madueke were seized in the US and UK, with tens of millions of dollars repatriated in 2023–2024 after civil and criminal forfeiture proceedings. Earlier cases include funds tied to former Delta State governor James Ibori, convicted in the UK in 2012, leading to confiscations of overseas assets.
Domestically, Nigeria’s EFCC has secured convictions and asset seizures against officials such as Joshua Dariye (former Plateau State governor) and Jolly Nyame (former Taraba State governor), though recoveries were modest compared with sums alleged to have been looted.
Despite decades of litigation and mutual legal assistance, data from the Ministry of Justice and civil society groups show total foreign recoveries over 25 years stand slightly above $5 billion; a fraction of losses. Over 98% of stolen funds remain unrecovered, often frozen abroad amid lengthy court processes. Legal complexities, lengthy appeals, proof standards in holding countries and prolonged freezes have slowed returns. While domestic seizures have risen, most high-value illicit assets remain abroad. Analysts say the paltry returns highlight both the endurance of kleptocracy and the formidable legal barriers to reclaiming Nigeria’s lost wealth.
