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FG clears air on £4.2m Ibori loot retrieval delay

By News Desk

The Federal Government has advanced reasons on why retrieving £4.2million recovered from former Delta State Governor, James Ibori, from the United Kingdom government to the Nigerian government covers was experiencing delay.

It attributed the delay being experienced in retrieving the looted funds stashed in UK to some logistics challenges that were being currently addressed.

The Minister of Justice, Abubakar Malami (SAN), restated that President Muhammadu Buhari-led’s administration was committed to the return of looted Nigerian assets kept outside the country.

Through a statement on Monday in Abuja issued by his Special Assistant on Media and Public Relations, Dr Umar Gwandu, said that the country would soon receive the £4.2million and others stashed away in foreign banks.

“Any moment from now, Nigeria will get the return of the 4.2 million pounds seized from the associates of convicted former Governor of Delta, James Ibori.

“Sometimes when a country transfers funds, it may take a little more time than expected due to some documentation. My office and other relevant government agencies will keep the public informed once the Ibori loot is received and confirmed’’.

He said that the federal government was in touch with the government of the United Kingdom on the matter and necessary actions were being taken to ensure swift transfer.

“Documentations with the banks in different countries often take longer than expected. We anticipated two weeks but we are not in control of the banks,” he said.

Malami maintained that the government was working assiduously to make sure that the transfer goes through successfully.

“There is neither complacency nor undue delay as efforts are being made to ensure successful transfer of the funds,” he assured.

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