Government

United Kingdom Set to Return £4.2 Million Looted by James Ibori to Nigeria

Just like billions stolen by former President, late General Sani Abacha, and repatriated by developed nations, the British Government has concluded plans to return £4.2 million recovered from friends and family members of former Delta Governor, James Ibori.

Ms. Catriona Laing, the British High Commission to Nigeria, disclosed this on Tuesday morning in Abuja.

She said the £4.2 million was the first tranche of such planned returns.

Laing explained that the amount being returned was recovered from friends and family members of Ibori in U.K, adding that the former governor’s case is complicated and the United Kingdom authorities were still working on the total actual amount involved in the case.

Speaking at a ceremony for the signing of a memorandum of understanding (MOU) between Nigeria and the United Kingdom, Laing assured Nigeria that more recoveries from the Ibori case would be returned to Nigeria in due course.

Abubakar Malami, Nigeria’s Attorney General and Minister of Justice who signed for Nigeria disclosed that President Buhari has directed that the loots should be used to complete the second Niger Bridge, the Lagos – Ibadan expressway and the Abuja to Kano expressway projects.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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