Ibori Loot: Finally, FG Receives £4.2 Million From UK

• “The amount has been credited into the designated federal government account”

The federal government on Tuesday said it had taken custody of the £4.2 million loot recovered from James Ibori, former Delta state governor, and his associates.

Ekohotblog reports that the federal government announced the development in a statement issued  on Tuesday by Umar Gwandu, special assistant on media and public relations to Abubakar Malami, attorney-general of the federation.

The UK had on May 9 said it was committed to returning the recovered loot.

Announcing the receipt of the money on Tuesday, Malami said the naira equivalent of the money had been sent to a federal government designated account.

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“The amount has been credited into the designated federal government account with naira equivalent value of the amount as of 10th May, 2021″ the statement read.

“The development, according to Malami, was a demonstration of the recognition of reputation Nigeria earns through records of management of recovered stolen Nigerian stolen in the execution of public oriented projects.”

Malami had said the recovered loot will be used to finance three infrastructural projects — Lagos-Ibadan, Abuja-Kano expressways and the second Niger bridge.

Although the Delta government had vehemently objected to return of the money to the federal government, noting that the money ought to be returned to the state as it belonged to the people and government of Delta.

Countering the state government claims, the AGF said the law broken by Ibori was federal one, and not that of the state.

The minister, through his spokesperson, had also said works were in the pipe to secure the repatriation of more than £80 million looted by the former governor.