James Ibori

Over ₦527 Billion Ibori Loot Still Being Expected – FG

The Federal Government has revealed that over £100m (N527bn), stolen by a former Governor of Delta State, James Ibori, and his associates are still being expected.

The Attorney-General of the Federation, Abubakar Malami (SAN), said this on Channels Television’s Politics Today’ program on Tuesday.

James Ibori

Malami, who is also the Minister of Justice, said apart from the Ibori loot, $100m traced to the late Head of State, Gen Sani Abacha, was also being expected.

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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.

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