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Nigeria Awaits Repatriation of £100mn, $100mn Stolen by Politicians

Nigeria’s Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), said the Federal Government was expecting the repatriation of over £100 million (N527bn), allegedly stolen by a former Governor of Delta State, James Ibori, and his associates.

Malami added that $100 million traced to the late Head of State, Gen Sani Abacha, was also being expected.

He made the disclosure on Channels Television’s Politics Today’ programme on Tuesday.

He said, “As it is we have succeeded in recovering £4.2m from the UK. We are still pursuing other assets even as it relates to the Ibori assets.

“The quantum of the amount involved was within the region of over £100m (N2.2bn) and it is out of it that we have succeeded in recovering a fraction of £4.2m and we are still pursuing an additional sum within the region of £100m (N527bn) and that will be a function of conviction and subsequent recovery process.”

The AGF said the money would not be handed over to the Delta State Government because the crime that led to the diversion of the funds was a federal one.

He further argued that one of the conditions for the UK repatriating the Ibori loot was that the money must be tied to certain federal projects which include the Lagos-Ibadan Expressway, the Abuja-Kano rail and the Second Niger Bridge and a Memorandum of Understanding had been signed between both parties.

About Babajide Iletogun

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