UK govt reveals plan to return N2.4bn James Ibori loot to Nigeria

The United Kingdom has signed a Memorandum of Understanding (MoU) to return the sum of £4.2 million (N2.4bn) 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. 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 lamented that many Nigerians were in the habit of siphoning money from the country to the UK, saying that has also affected the level of trust between the two countries.

Laing however warned that the UK will no longer be used as a destination for looters to siphon proceeds of crimes. The Attorney General of the Federation and Minister of Justice, Abubakar 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.