Breaking: Nigerian Government Finally Receives £4.2m Ibori Loot

Breaking: Nigerian Government Finally Receives £4.2m Ibori Loot

- The AGF, Abubakar Malami, said the Nigerian government has received the Ibori loot from the British authorities

- Malami disclosed this on Tuesday, May 18, via a statement by his spokesman, Umar Gwandu

- James Ibori was a former governor of Delta state who was jailed in the UK for fraud totalling nearly £50m in 2012

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The federal government said that the British government has formally paid the £4,214,017.66 looted funds recovered from family members and associates of former Delta state governor, James Ibori, into its designated account.

Channels TV reports that the attorney-general of the federation and minister of justice, Abubakar Malami, confirmed the development on Tuesday, May 18.

Breaking: Nigerian Government Finally Receives £4.2M Ibori Loot
Abubakar Malami said the Nigerian government finally received £4.2m Ibori loot. Credit: @JamesIbori6
Source: Twitter

Legit.ng gathered that he said the amount has been credited into the designated federal government account with naira equivalent as of May 10.

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Daily Nigerian also reports that Malami’s spokesman, Umar Gwandu, in a statement on Tuesday, May 18, quoted the AGF as confirming the receipt of the recovered loot by the FG.

He said:

“Attorney-general of the federation and minister of justice, Abubakar Malami, SAN signed Memorandum of Understanding for the repatriation of the Ibori loot on behalf of the Federal Government of Nigeria."

The minister had on May 3, announced that the United Kingdom would repatriate the looted fund to Nigeria any moment soon.

He had explained that the President Muhammadu Buhari administration was working tirelessly to ensure the return of looted Nigerian assets kept outside the country’s territorial boundaries.

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Meanwhile, Legit.ng had previously reported that Yemi Candide-Johnson, a Senior Advocate of Nigeria (SAN) revealed the reason why the £4.2million looted by Ibori can't be claimed by Delta state.

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It was reported that the United Kingdom signed a Memorandum of Understanding (MoU) to return the sum of £4.2 million of stolen assets by Ibori.

The senior lawyer argued that the funds are owned by the UK government in accordance with its laws giving it the power to confiscate proceeds of crime from persons convicted via the British judicial system.

Source: Legit Nigeria

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