BREAKING : Nigeria Receives €4.2m Ibori Loot

James Ibori, former governor of Nigeria's Delta State, speaks after a court hearing outside the Royal Courts of Justice in London, Britain, January 31, 2017. REUTERS/Estelle Shirbon/File Photo - RC160CF2F8C0

The Federal Government said it  has received  £4,214,017.66 looted by former Delta State Governor, James Ibori  and his family members.

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami,   made the revelation on Tuesday in a statement through  his spokesperson, Umar Gwandu.

TheFact Nigeria Recalled  that the minister of justice  had signed a Memorandum of Understanding(MoU)  with the United Kingdom for  the repatriation of the looted funds.

According to the Senior Advocate of Nigeria (SAN),  the money would be used to finance the second Niger bridge and other project. Although, stakeholders in Delta State argued that the recovered loot should be returned to the state since the money was stolen when Ibori was a governor.

Malami said  the amount has been credited into the designated Federal Government account with naira equivalent as of 10th May, 2021.

According to the statement,” Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN signed Memorandum of Understanding for the repatriation of the Ibori loot on behalf of the Federal Government of Nigeria.

 “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.”

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