The Federal government of Nigeria has got €4.2m James Ibori loot from the United Kingdom. This development was confirmed by the Nigerian minister of Justice and Attorney general of the federation, Abubakar Malami.
He confirmed that the “Federal Government of Nigeria has received GBP 4,214,017.66 of the loot associated with the family members of former Delta State Governor, James Ibori.”
According to the statement, “the amount has been credited into the designated Federal Government account with naira equivalent value of the amount as of 10th May 2021.”
Recall Malami declared on May 3 that the United Kingdom would repatriate the stolen funds to Nigeria at any time.
He had stated that President Muhammadu Buhari’s administration was working round the clock to ensure the return of stolen Nigerian assets held outside the country’s borders, and that the Federal Government of Nigeria was in contact with the UK government on the matter.
The Memorandum of understanding for the repatriation of James Ibori loots was signed by Malami on behalf of the Nigerian government.
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“Documents with banks in various countries often take longer than anticipated. We expected two weeks, but we don’t have leverage over the banks.
“There is no room for complacency or delay,” he said, adding that efforts are being made to ensure the successful transfer of the stolen funds.
He stated that the federal government is working diligently to ensure that the transition is completed successfully.
The Minister 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.
We only hope that the government uses the recovered lots for to fund beneficial projects that would benefit the masses at the long run.