£4.2m Ibori Loot Should Go To Delta State Not FG, Falana Tells Malami

Femi Falana, a senior advocate of Nigeria (SAN), has disproved Abubakar Malami, attorney-general of the federation, assertion that the loot recovered from James Ibori, former governor of Delta, belongs to the federal government.

Recall that Malami had said the Loot will used to finance federal government capital expenditure and projects in some parts of the country.

says the loot recovered from James Ibori, former governor of Delta, should be returned to the source, which is the state.

But speaking on Wednesday when he featured on a Channels Television programme, the senior advocate counters Malami, saying the loot should be returned to Delta state as it’s meant for the development of the state.

Falana averred that since the Ibori loot in question was siphoned from the treasury of Delta state, the federal government has no justification or right to decide how the recovered money is spent.

He added that it’s incumbent on the Delta people to monitor how the money is spent to ensure that it’s not diverted into private pockets or relooted.

“Having acknowledged the role of the federal government, the fund has to return to the source. Factually, between 1999 and 2003, the Delta state government like other state governments in Nigeria received its statutory allocation on a monthly basis and paid same into the account of the government. From that account, some amount was alleged to have been diverted and taken to the United Kingdom,” he said.

“As the honourable attorney-general had said, the money is over £100 million. What has been released now is the first tranche of £4.2 million. Since the money left the coffers of the Delta state government, it has to be returned once this fund is recovered.

“The federal government has no locus standi with respect to how the money is spent. That is left for the people of Delta state to monitor the government of that state to ensure that the fund is not relooted.

“In fact, the memorandum of understanding referred to by the attorney-general signed in London, smacks of colonialism. Britain cannot decide on how recovered loot should be spent

“What I expect the attorney-general or the federal government — in the circumstance — is to collaborate with the Delta state government to ensure that the banks that housed the looted wealth of Delta state or the banks involved, are made to pay collosal damages and interests for denying the people of Delta state the opportunity to use the money for development.”