The Federal Government of Nigeria has finally received a sum of £4,214,017.66 looted funds recovered from family members and associates of former Delta State Governor, James Ibori by the United Kingdom.
The Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami, made this confirmation on Tuesday. According the the AGF, the UK has paid the recovered looted funds to the account designated by the Federal Government.
Malami also confirmed that the funds was paid in Naira, although he failed to disclose the exact amount.
However, according to the official exchange of Tuesday, the looted funds might be equivalent to N2.9billion.
Malami’s spokesman, Dr. Umar Gwandu, in a statement on Tuesday confirmed the development.
The statement reads, “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 development, according to Malami, 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.”
Recall that Ex-Delta State Governor corruption charges began with the filling of petitions by his kinsmen under the auspices of Delta State Elders and Stakeholders Forum influenced by the foremost Ijaw leader, Chief E. K. Clark, OFR, CON who was also the former Minister of Information.
In 2007, the Metropolitan Police raided the London offices of barrister Bhadresh Gohil. Hidden in a wall behind a fireplace, they found computer hard drives containing details of a myriad of off-shore companies run for Ibori by Gohil, fiduciary agent Daniel Benedict McCann, and corporate financier Lambertus De Boer.
As a result of these corruption allegations, the United Kingdom courts froze Ibori’s assets, valued at about £17 million ($35 million), in early August 2007.
The New Diplomat had also reported that the representatives of both the U.K. and Nigerian governments signed a Memorandum of Understanding (MoU) to return the sum of £4.2 million recovered from Ibori.
The British High Commissioner, Catriona Laing, signed the agreement on behalf of the U.K. government while Mr Malami signed it on behalf of the Nigeria government.
The ownership of the recovered funds has however been generating controversies with the Delta State Government claiming the funds should be sent to the state’s account given the fact that the funds were recovered from a former governor of the state.
The AGF while signing the MoU agreement had stated that the recovered funds would be ploughed into the construction of the Lagos-Ibadan Expressway, Abuja-Kano Road and the Second Niger Bridge, a statement that has sparked criticism from the Delta State government who are demanding to be given the exclusive rights to decide how the money would be spent.
