BUSINESS AND ECONOMY

Nigerian government receives £4,214,017.66 Ibori loot

The British Government has formally paid the £4,214,017.66 looted funds recovered from family members and associates of former Delta State Governor, James Ibori into an account designated for that purpose by the Federal Government.

The Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami, who confirmed this development on Tuesday, said the amount has been credited into the designated Federal Government account with naira equivalent as of 10th May, 2021.

Malami’s spokesman, Dr. Umar Gwandu, in a statement on Tuesday quoted the AGF as confirming the receipt of the recovered loot by the FG.

He added: “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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