Nigeria Receives £4.2M Ibori Loot From United Kingdom

The government of the United Kingdom has repatriated back to Nigeria, the sum of £4.2million that was looted by associates and family members of a convicted former governor of Delta State, James Ibori.

The Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami, SAN, confirmed receipt of the looted fund, in a statement he made available to newsmen in Abuja on Tuesday.

Malami, in the statement that was signed by his Special Assistant on Media and Public Relations, Dr Umar Gwandu, disclosed that the money was credited into the designated Federal Government account, with the naira equivalent value of the amount as of May 10, 2021.

The AGF had earlier signed a Memorandum of Understanding for the repatriation of the loot, on behalf of the Federal Government of Nigeria.

According to him, “the development was a demonstration of the recognition of reputation Nigeria earns through records of management of recovered stolen Nigerian stolen in the execution of public-oriented projects”.

Ibori was Governor from May 29, 1999, to May 29, 2007. In April 2012, he received a 13-year jail sentence after admitting fraud of nearly £50million.

He pleaded guilty two months earlier, to conspiracy to launder funds, substantive counts of money laundering and one count of obtaining a money transfer by deception and fraud.

Judge Anthony Pitts told Southwark Crown Court in London in the light of other matters, aid Ibori’s loot “may be in excess of £200 million, it is difficult to tell”.

The Metropolitan Police estimated that Ibori embezzled £157 million of state money.

“James Ibori’s sentence sends a strong and important message to those who seek to use Britain as a refuge for their crimes”, said Andrew Mitchell, the UK International Development Secretary.