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 Attorney-General of the Federation, Abubakar Malami, said this while delivering his speech on Tuesday at the signing ceremony of the Memorandum of Understanding between Nigeria and the government of the UK regarding the return and management of stolen assets recovered from Ibori and associates.
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.
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