Introduction

• By virtue of a Trilateral Agreement for the Sharing, Transfer, Repatriation, Disposition and Management of Certain Forfeited Assets (Trilateral Agreement) by and among the Federal Republic of Nigeria, the Bailiwick of Jersey and the Government of the United States of America (together, the Competent Authorities) dated the 3rd of February 2021, the sum of USD 311.8 million (Recovered Assets) was transferred to the Nigeria Sovereign Investment Authority (NSIA or the Authority) as Implementing Authority of the Federal Republic of Nigeria under the Agreement.
• Pursuant to its responsibilities under the Trilateral Agreement, the NSIA complied with the following
  a. Establishment of the NSIA Project Management Team
  b. Opening of a Dedicated Account
  c. Engagement of the Designated Independent External Auditor
  This report is provided in fulfilment of obligation of the NSIA to provide quarterly reports to the Competent Authorities under the Trilateral Agreement.