United Kingdom to return ex-convict Ibori’s stolen £4.2 million to Nigerian Government

The stolen £4.2 million recovered from the ex-convict former Governor of Delta State, James Ibori is to be return by the United Kingdom government to Nigerian government, the money which naira equivalent is N2.4 billion,

Penpushing reports that Ibori was convicted of corruption charges in the London court in 2012, while about  £4.2 million was recovered from  the former Nigerian Governor, his associates and relatives.

The representatives of both the United Kingdom and Nigerian governments as at the time of filing this report have signed an agreement for the return of the money to Nigeria in Abuja on Tuesday.

Penpushing further reports that the signing of the agreement, was done under the auspices of the United Kingdom.-Nigeria Memorandum of Understanding (MoU), which came into force in 2016,held at the Federal Ministry of Justice, Abuja the Federal Capital Territory (FCT)

The Attorney-General of the Federation, Abubakar Malami, signed  on behalf of the Nigeria government, while the British High Commissioner, Catriona Laing, signed the agreement on behalf of the United Kingdom government

 Penpushing also reports that the British High Commissioner speaking at the event said the signing of the agreement was a demonstration of the United Kingdom government’s commitment to recovering and returning corruptly-obtained assets to the rightful owners.

The British High Commissioner noted that the recovered fund was a product of a long-drawn battle with third parties who had shown interest in it but were eventually defeated in United Kingdom courts.

“This agreement represents the culmination of many years of work by law enforcement authorities in the UK and Nigeria. The return of the assets to Nigeria has been subject to a number of hard-fought legal challenges by third parties which were defeated in the UK courts’.

“It is vitally important that this agreement maxes strong provision for transparency, monitoring and accountability. It is guiding principles of both the U.K. and Nigerian governments that stolen assets should be used for projects that benefit Nigeria’s poor. I believe that this agreement demonstrates the UK’s commitment to recovering and returning corruptly-obtained assets.”

Penpushing reports that, Laing said the agreement was another example of the success of the close collaboration between the United Kingdom and Nigeria, just as she  also warned intending looters that stolen assets were not welcome in her country., adding that whoever hide proceeds of crime in her country would be visited with the full weight of the law.

“Money obtained through criminality or corruption is not welcome in the UK. We will ensure the full weight of law enforcement to crack down upon those who look to use, move or hide their proceeds of crime in the U.K,” she declared.

Penpushing reports that, the Attorney General of Federation on his part said the money would assist the Nigerian government in expediting the construction of the Lagos-Ibadan Expressway, Abuja-Kano Road and the Second Niger Bridge, which he said would boost economic growth and help alleviate poverty.

“The government of Nigeria is committed to ensuring the transparent management of recovered assets. The asset returned from the UK will support and assist in expediting the construction of three major infrastructure projects across Nigeria: The Lagos — Ibadan Expressway, Abuja-Kano Road and the Second Niger Bridge’, he said.

“These projects are being executed under the supervision of the Nigeria Sovereign Investment Authority. The projects will boost economic growth and help alleviate poverty by connecting people and supply chains from the East to the West and to the Northern part of Nigeria, a vast area covering several kilometers with millions of the country’s population set to benefit from the road infrastructures.”

Penpushing further reports that, Malami also appealed to the United Kingdom for greater cooperation in the early repatriation of stolen assets, noting that the participation of civil society organisations in the monitoring of the use of the returned of the assets was a great innovation and was fully supported by the government of Nigeria.

The Attorney General urged other African countries to emulate Nigeria’s great strides in the application of returned assets to development projects in line with the United Nations Sustainable Goal 16.

Penpushing also reports that, the former Governor during his trial at the United Kingdom court in February 2012 pleaded guilty to money laundering, conspiracy to defraud, and forgery and subsequently sentenced to a total of 13 years in prison.

The former Governor  had earlier during his trial in Nigeria for same offence, was set free of the charges by a Nigerian federal court, and later took refuge in United Arab Emirate (UAE) and later extradited to the United Kingdom where he was eventually jailed for the aspects of the crimes committed in the country.

Penpushing reports that the ex-convict, on completion of his jail term returned to Nigeria in February 2017, and equally returns to politics, where he is still struggling hard to be relevant in the country politics

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