The United Kingdom has signed a Memorandum of Understanding (MoU) to return the sum of £4.2 million assets stolen by former Delta State Governor, James Ibori to Nigeria.
This was announced on Tuesday by the British High Commissioner to Nigeria, Catriona Laing in Abuja, the nation’s capital.
Ibori was convicted in the UK for money laundering and jailed.
On 27 February 2012, he was charged with stealing US$250 million from the Delta state treasury.
The former governor pleaded guilty to ten counts of money laundering and conspiracy to defraud at Southwark Crown Court, London.
But on Tuesday, Ms. Catriona Laing, British High Commissioner to Nigeria, said the money would be returned to Nigeria in batches.
Laing at the signing of the MoU at the Conference Hall of the Ministry of Justice said the money was recovered from friends and family members of the former governor.
She said £4.2 million would be returned to Nigeria in the first batch saying that the UK government was still working on it to ascertain how much was really involved.
She said with time, more funds stolen by Ibori would be repatriated to Nigeria.
Nigeria’s Attorney General and Minister of Justice, Abubakar Malami, signed for the country.
Malami said the recovery of the stolen fund is part of the efforts of the current administration to fight corruption.
He said that the money will be used for the construction of the second Niger Bridge, Abuja-Kano road, and Lagos-Ibadan Express road.
He said President Muhammadu Buhari has directed that the returned loot be deployed to completion of the second Niger Bridge, the Lagos-Ibadan and the Abuja to Kano express way projects.
” 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 £4.2million 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.
” I cannot but observe that what we are witnessing today is a glaring manifestation of the agelong national ties between the Federal Republic of Nigeria and the United Kingdom.
“I am confident that both the Nigerian and British governments remain committed to all affirmative actions to combat corruption/illicit financial flows, ensure that looters do not find comfort or save haven in our territories and also to guarantee that the forfeited or recovered proceeds of corruption are deployed to the benefit of the masses.
“Hence, in consonance with existing framework or model engaged in the management of previous recoveries, the Federal Executive Council under the able leadership of President Muhammadu Buhari has 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 (NSIA) to ensure integrity of the process while a reputable Civil Society Organization has been engaged to monitor/supervise the expenditure of the recovered funds on the execution of these critical projects which are evenly spread across the country.
“I am highly elated and privileged to perform this assignment on behalf of Mr. President and Nigerians in general. I commend the sincerity of purpose of the British government as we look forward to similar assistance and cooperation in bringing to book all other persons and entities who at the moment are inequitably exploiting the system in UK to shield themselves from justice.”
