Ibori loot: UK to return £4.2 million to Nigeria
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.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Africa
ECOWAS holds strategic peace talk with African Union
ECOWAS has held a strategic peace talk with the AU to integrate and implement the African Union Accountability and Compliance Framework into peacekeeping missions.
Economy
Experts decry challenges in ICT industry, suggest solutions
An expert says Nigeria’s infrastructure deficit and rising equipment costs are stalling the growth of the country’s information and communication technology industry.
Politics
Police promise adequate security for Saturday’s Gombe LG polls
The police command in Gombe has assured of adequate security, ahead of Saturday’s local government councils poll.
Rights
N615,000 new minimum wage based on N1,700 per dollar computation: TUC, NLC
“It is now N615,000. Regarding when the new minimum wage, the committee is still working,” said the TUC president.
Faith
NPC mourns Yobe federal commissioner Mai Muhammed
NPC said Mr Muhammed passed away on Sunday while performing lesser hajj in Saudi Arabia.
Economy
ECA urges Nigeria, other African countries to use digital tools for transparency
The Economic Commission for Africa has urged African countries to embrace digital tools to foster greater transparency, efficiency, and effectiveness.