Appropriation and Disbursement of James Ibori £4.2m Recovered Loot Halted by House of Rep.

The House of Representatives at plenary Wednesday, urged the Federal Ministry of Finance to stop further appropriation or disbursement of the recovered £4.2 million which was looted by former Governor of Delta State, James Ibori, pending the final determination of the matter by the House.

The House also declared that the money belongs to the Delta State Government.

The lower chamber also requested the Federal Ministry of Finance and Attorney General of Federation (AGF) to furnish it with all particulars relating to the recovered money.

It also directed the House Committees on Finance, Justice, Loans and Recovered Funds to investigate the matter and revert to the House within two weeks.

The resolutions were sequel to the adoption of a motion of urgent national importance, sponsored by the House Minority Leader, Hon. Ndudi Elumelu, and nine other lawmakers from Delta State.

Moving the motion, Elumelu noted that the sum of £4.2 million being proceeds of looted funds recovered from a former Governor of Delta State, Ibori, is being transferred to the coffers of the Federal Government of Nigeria for appropriation without recourse to the Delta State and or parliament in two weeks’ time.

He said the House is aware that assets seized by the Economic and Financial Crimes Commission (EFCC) from states were returned to such states, hence the said recovered looted funds belong to the people of Delta State and as such ought to be refunded to the coffers of the Delta State Government for developmental purposes.

Elumelu expressed concerns that if the federal government is allowed to appropriate the funds without recourse to the Delta State, the people of Delta will be deprived of their legitimate resources to improve the economy of the state.

He disclosed that all indications and information to Delta State indicate that the actual money is £6.2 million, adding that the federal government should ensure that the total sum of £6.2 million is credited and not £4.2 million as stated.

The lawmaker added that if the federal government is not stopped from further dealing with the said fund, the recovered loot may not be accounted to and or have any direct bearing or benefit to the people of Delta State.