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Ibori loot: UK to return £4.2 million to Nigeria

Based on the agreement signed, the £4.2 million will be returned before the end of March this year.

• March 9, 2021
James Ibori
James Ibori

The United Kingdom has resolved to return £4.2 million of assets stolen by former Delta Governor James Ibori.

This was disclosed by the British High Commission to Nigeria, Catriona Laing, during a ceremony to sign a memorandum of understanding between Nigeria and the UK, Channels TV reported.

Based on the agreement signed, the £4.2 million will be returned before the end of March this year.

Ms. Laing, who noted that public officers drew off public funds from Nigeria to the UK, said the funds returned were recovered from friends and family members of Mr. Ibori.

She, however, added such activities hampered trust between both countries, stating that the UK would no longer serve as a destination for looters.

In his remark, the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, who signed for Nigeria, the recovery was part of efforts put in place by the Buhari-led administration to end corruption.

Mr. Malami further revealed that the president had directed that all recovered loot be channelled to the completion of the second Niger Bridge, the Lagos to Ibadan expressway, and the Abuja to Kano expressway projects.

“The governments of Nigeria and the United Kingdom have concluded negotiations for the return of £4.2 million to Nigeria pursuant to the Memorandum of Understanding earlier executed by the two governments in 2016,” Mr. Malami said.

A London court convicted the former governor in 2012 on 10 counts of fraud and money laundering amounting to at least £50 million. 

The amount was laundered in the UK through the purchase of real estate and other exotic cars.

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