The United Kingdom says it will return £4.2m of the James Ibori loot in the coming weeks.
The funds part of the nearly £50m loot taken by Ibori and his associates sequel to his jail term in London.
The UK’s High Commissioner to Nigeria, Catriona Laing disclosed this in Abuja while signing a Memorandum of Understanding, MoU with the Nigerian Government for the repatriation of stolen assets of Ibori.
“Efforts are being made to recover money directly from the former governor.
“Illicit financial crime is not only associated with Nigeria, but a global issue and the United Kingdom is not a safe haven for any financial crime,” Catriona said.
Meanwhile, Nigeria’s Attorney General and Minister of Justice, Abubakar Malami, highlighted that the returned funds would be used for the completion of the 2nd Niger bridge, Abuja-Kano Expressway and the Lagos-Ibadan highways.
“Hence, the Nigerian Government and the UK government have concluded negotiations for the return of £4.2 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 benefits of that cooperation,” Malami said.
