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Nigeria to receive £4.2m Ibori loot from UK

By News Desk

The British Government has disclosed that plans have been concluded to return £4.2million recovered from former Delta State Governor, James Ibori to the Nigerian government covers.

The British government maintained the recovered assets billed for return to Nigeria were recovered from friends and family members of the ex-governor.

the British High Commissioner to Nigeria, Catriona Laing, said that the move had become imperative to support the Nigerian government in augmenting its infrastructural projects across the country.

Speaking on Tuesday in Abuja after signing a Memorandum of Understanding (MoU) with the Ministry of Justice, Laing maintained that the money would be used for construction of the second Niger Bridge, Abuja-Kano road, and Lagos-Ibadan Express road.

She added that the money laundering activities synonymous with Nigerians had been causing friction in the diplomatic ties of Nigeria and the United Kingdom.

According to Liang, the UK will no longer be used as a destination for looters to siphon the proceeds of crimes.

On his part, the Attorney General of the Federation and Minister of Justice, Abubakar Malami, said that the recovery of the stolen fund was part of the efforts of the current administration in the fight against corruption.

He added that based on the agreement signed, the £4.2million was being expected to be returned to the Nigerian government in fourteen days.

He said, “I wish to remark that today’s ceremony and the recoveries attached thereto has again underscored the fact that international cooperation and mutual trust can yield great benefits for the citizenry in developing countries who are the direct victims of acts of corruption.

“Hence, the governments of Nigeria and the United Kingdom have concluded negotiations for the return of £4.2m to Nigeria pursuant to the Memorandum of Understanding earlier executed by the two governments in 2016.

“It is to be recalled that the Nigerian government had all along provided the required mutual assistance and backup to the British authorities while the prosecution of James Ibori lasted in London and today, we are rightfully taking benefit of that cooperation.”

He, however, assured that both governments would remain committed to combating corruption and illicit financial flows and ensure proper prosecution of looters.

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