The United Kingdom is set to return £4.2m (N2.2bn) being part of the funds so far seized from convicted former Delta Governor, James Ibori, his associates, and family members.
Abubakar Malami, the Attorney-General of the Federation, and British High Commission to Nigeria, Ms. Catriona Laing revealed this on Tuesday at the signing ceremony of the Memorandum of Understanding between Nigeria and the government of the UK, in respect of the return and management of stolen assets recovered from Ibori and associates.
“I wish to remark that today’s ceremony and the recoveries attached thereto has again underscored the fact that international cooperation and mutual trust can yield great benefits for the citizenry in developing countries who are the direct victims of acts of corruption,” Malami said in a speech.
“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.
“It is to be recalled that the Nigerian government had all along provided the required mutual assistance and back up to the British authorities while the prosecution of James Ibori lasted in London and today, we are rightfully taking benefit of that cooperation.,” the minister added.
Malami added that in keeping with the government’s decision on the management of such recoveries, the Federal Executive Council had directed that the funds being returned should be deployed towards the completion of specified projects: the Second Niger Bridge, Abuja – Kano expressway, and the Lagos – Ibadan expressway under the coordination of the Nigeria Social Investment Authority to ensure the integrity of the process.
A reputable Civil Society Organisation had been engaged to monitor and supervise the expenditure of the recovered funds on the execution of these critical projects which are evenly spread across the country, Malami added.
“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.
Ibori was governor of Delta State for two terms, from 1999 to 2007, during which he amassed wealth at the expense of the state, using a string of mistresses and other proxies.
Ibori was jailed for 13 years in the UK in 2012 after he was convicted of fraud but was released in 2016 after serving a part of his jail term.
Laing explained that the amount being repatriated to Nigeria was retrieved from Ibori’s associates and family members, but added that Ibori’s case is complicated.
The UK authorities are still trying to determine the exact amount that the former governor looted from Nigeria and transferred to her country.
