By Deborah Hassan
The United Kingdom (UK) will return £4.2m (N2.2bn) seized from convicted former Governor of Delta State, James Ibori, and his associates, the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, has said.
Ibori, who governed Delta State from 1999 to 2007, was convicted in the UK in 2012 and sentenced to 13 years in jail after admitting fraud of nearly £50m (N26.3bn). Prosecutors said the actual amount stolen was about £250m (N131.7bn).
He was released in 2016.
Malami made the disclosure on Tuesday, March 9, 2021, in a speech delivered at a ceremony to mark the signing of a Memorandum of Understanding (MoU) between Nigeria and the government of the UK on the return and management of stolen assets recovered from Ibori and associates.
Malami assured of the commitment of both countries to combating corruption by checking illicit financial flows and ensuring that looters do not find comfort or save haven their respective territories.
“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,” he disclosed, adding that “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 further said the Federal Executive Council had directed that the instant repatriated funds should be deployed towards the completion of the following legacy projects: the Second Niger Bridge, Abuja – Kano expressway and the Lagos – Ibadan expressway under the coordination of the Nigeria Social Investment Authority to ensure integrity of the process, in line with existing framework in the management of previous recoveries.
“We have established, as a government, a reputation of transparency and accountability of utilization of recovered assets as a nation. These assets will in no way be different in terms of application,” he said.