BREAKING: FG Finally Bows to Pressure, Returns £4.2m Ibori Loot to Delta

BREAKING: FG Finally Bows to Pressure, Returns £4.2m Ibori Loot to Delta

- Official reports claim the £4.2 million James Ibori is now in the custody of Delta state

- This was revealed by AGF Ahmed Idris on Tuesday, May 25

- Idris made this disclosure to lawmakers of the House of Representatives

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The sum of £4.2 million looted by the James Ibori administration in Delta was on Tuesday, May 25, declared to have been returned to the state by the federal government.

Punch reports that this was revealed by Accountant General of the Federation, (AGF) Ahmed Idris at the House of Representatives hearing convened by the ad hoc committee on assessment and status of all recovered loots movable and immovable assets from 2002 to 2020.

BREAKING: FG Finally Bows to Pressure, Returns £4.2m Ibori Loot to Delta
The return of the loot was announced by AGF Ahmed Idris (Photo: @JamesIbori6)
Source: Twitter

Idris, who was quizzed by the committee, disclosed that such looted funds are meant to be returned to the state concerned by the government and that the former's failure to do so can warrant legal actions from the latter, The Nation reports.

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Meanwhile, the attorney-general of the federation and minister of justice, Abubakar Malami, had insisted that the Delta state government would not be given a kobo out of the recovered loot.

Also, the attorney-general said the federal government would deviate from the agreement reached with the United Kingdom government concerning the disbursement of the fund.

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According to Malami, the money would be used for some projects according to the agreement reached.

He said:

“The way international diplomatic processes operate with particular regard to the recovery of looted asset is more or less about engagement among the nations of interest."

Earlier, the federal government had said that the United Kingdom had 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. Malami, confirmed the development on Tuesday, May 18.

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

Source: Legit

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