FG receives £4.2m Ibori loot

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The state funds looted by the former governor of Delta State, James Ibori, has been repatriated to Nigeria.

Attorney-General of the Federation and Minister of Justice, Abubakar Malami, confirmed that a total of £4,214,017.66 of the loot associated with the family members of the former Delta State governor has been returned to the country.

According to the statement released by his spokesman, Umar Gwandu, on Tuesday, the amount has been credited into the designated Federal Government account with naira equivalent value of the amount as of May 10, 2021.

In March, the UK and Nigerian governments signed an agreement for the £4.2m recovered by UK agencies to be sent back to Nigeria for infrastructure projects, including the Lagos to Ibadan Expressway, the Abuja to Kano road and the second Niger Bridge.

Ibori was convicted of money laundering in the UK in 2012.

Prosecutors say he stole an estimated £117m from the oil-rich state.

According to UK authorities, this is the first time that money recovered from criminals will be returned to Nigeria since an agreement was signed in 2016.

 




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