UK To Return £4.2m Ibori Loot To Nigeria

The United Kingdom is set to return £4.2m (N2.2bn) seized from
convicted former Governor of Delta State, James Ibori, and his
associates.

The British High Commission to Nigeria, Ms. Catriona Laing, who
disclosed this on Tuesday in Abuja, said this was the first tranche
of such planned returns.

Laing said what is currently being returned were retrieved from
friends and family members of Ibori.

She noted the Ibori case is complicated and the United Kingdom
authorities were still working on the total actual amount involved
in the case.

Laing, who spoke at a ceremony for the signing of a memorandum
of understanding (MOU) between both countries in Abuja, assured
more of such recoveries from the Ibori case would be returned to
Nigeria in due course.

Nigeria’s Attorney General and Minister of Justice, Abubakar
Malami, who signed for the country, disclosed that President
Muhammadu Buhari has directed the returned loots be deployed to
completion of the second Niger Bridge, the Lagos to Ibadan express
way and the Abuja to Kano express way projects.

He said, “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.

“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 backup to the British
authorities while the prosecution of James Ibori lasted in London
and today, we are rightfully taking benefit of that
cooperation.”

Malami, who is also the Minister of Justice, said he was
confident that both the Nigerian and British governments remain
committed to combating corruption and illicit financial flows and
ensuring that looters do not find comfort or save haven their
respective territories.

He said in consonance with existing framework in the management
of previous recoveries, 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.

The attorney-general said 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.

“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, who ruled Delta State from 1999 to 2007, was convicted by
a UK court in 2012 and was sentenced to 13 years in jail after
admitting fraud of nearly £50m (N26.3bn), even though prosecutors
say the actual amount stolen was about £250m (N131.7bn).

The former governor of Delta state pleaded guilty to 10 offenses
relating to conspiracy to launder funds from the state, substantive
counts of money laundering and one count of obtaining money
transfer by deception and fraud.

He was released in 2016 after serving a fraction of his
term.

The United Kingdom is set to return £4.2m (N2.2bn) seized from
convicted former Governor of Delta State, James Ibori, and his
associates.

The British High Commission to Nigeria, Ms. Catriona Laing, who
disclosed this on Tuesday in Abuja, said this was the first tranche
of such planned returns.

Laing said what is currently being returned were retrieved from
friends and family members of Ibori.

She noted the Ibori case is complicated and the United Kingdom
authorities were still working on the total actual amount involved
in the case.

Laing, who spoke at a ceremony for the signing of a memorandum
of understanding (MOU) between both countries in Abuja, assured
more of such recoveries from the Ibori case would be returned to
Nigeria in due course.

Nigeria’s Attorney General and Minister of Justice, Abubakar
Malami, who signed for the country, disclosed that President
Muhammadu Buhari has directed the returned loots be deployed to
completion of the second Niger Bridge, the Lagos to Ibadan express
way and the Abuja to Kano express way projects.

He said, “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.

“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 backup to the British
authorities while the prosecution of James Ibori lasted in London
and today, we are rightfully taking benefit of that
cooperation.”

Malami, who is also the Minister of Justice, said he was
confident that both the Nigerian and British governments remain
committed to combating corruption and illicit financial flows and
ensuring that looters do not find comfort or save haven their
respective territories.

He said in consonance with existing framework in the management
of previous recoveries, 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.

The attorney-general said 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.

“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, who ruled Delta State from 1999 to 2007, was convicted by
a UK court in 2012 and was sentenced to 13 years in jail after
admitting fraud of nearly £50m (N26.3bn), even though prosecutors
say the actual amount stolen was about £250m (N131.7bn).

The former governor of Delta state pleaded guilty to 10 offenses
relating to conspiracy to launder funds from the state, substantive
counts of money laundering and one count of obtaining money
transfer by deception and fraud.

He was released in 2016 after serving a fraction of his
term.