UK government has paid Nigeria over N2 billion (£4,214,017.66) looted from the country by a convicted fraudster and former Delta State Governor, James Ibori.
The United Kingdom first announced in March 2021 that it would return the recovered loot to the Nigerian government after reaching an agreement.
Daily Nigerian reports that the Minister of Justice and Attorney-General of the Federation, Abubakar Malami, through his spokesman, Umar Gwandu say that on Tuesday, May 18, confirmed the receipt of the recovered loot by the FG.
“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 statement reads
Ibori was convicted in the UK in 2012 for fraud and money laundering years after he finished his two terms as Delta Governor, and was released in 2016.
Malami said 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.
He said in March that the government is still pursuing an estimated £100 million (N52.6 billion) looted by the former governor.
The Federal Government has also resisted calls for the repatriated fund to be credited to the Delta State government, pledging instead to use it for the construction of the second Niger Bridge, Abuja-Kano road and Lagos-Ibadan expressway.